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Orange Genie

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    #11
    Originally posted by Great Britten View Post
    Sorry if I misunderstand you but are you saying they're pocketing 12.07% of my taxable pay?
    Basically, there are 2 ways for umbrellas to handle holiday pay:
    1. They pay you the same money whether you're working or not (similar to a permanent job), i.e. they put 12.07% of your taxable pay into a separate fund and dip into that fund on bank holidays etc.
    2. They give that holiday pay to you as you earn it, then it's up to you to save some money for a rainy day.

    Either way, they're not stealing the money. However, with option 1, you need to be clear about what happens if you end the contract with unused holiday days, e.g. you might stay on as an employee of the umbrella company for an extra week to get that money.

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      #12
      Originally posted by hobnob View Post

      Basically, there are 2 ways for umbrellas to handle holiday pay:
      1. They pay you the same money whether you're working or not (similar to a permanent job), i.e. they put 12.07% of your taxable pay into a separate fund and dip into that fund on bank holidays etc.
      2. They give that holiday pay to you as you earn it, then it's up to you to save some money for a rainy day.

      Either way, they're not stealing the money. However, with option 1, you need to be clear about what happens if you end the contract with unused holiday days, e.g. you might stay on as an employee of the umbrella company for an extra week to get that money.
      I've actually spoken to OG now and they have confirmed that no holiday pay is taken at all. I misunderstood my payslip after reading a previous poster claiming that OG steal holiday pay. Not true, it seems.

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        #13
        Most umbrellas will more than likely offer two options on holiday pay; one to accrue it, so keeping it aside for you, and the other is to roll it up, whereby you see it come off on the payslip and back on on the same payslip, then there are no funds available when you do take annual leave.

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