Many people think that public holidays are the same as Sundays and public holidays. The word 'weekday' means 'weekday' and a weekday public holiday is therefore a public holiday on a weekday. In everyday speech, they are called SH days.
The annual public holidays are
- Maundy Thursday
- Good Friday
- Easter Monday (Monday)
- Whit Monday (Monday)
- Ascension Day (Thursday)
- Great Day of Prayer (Friday)
- Christmas Day 1 and 2, 25 and 26 December if they fall on a weekday
- 1 January if it falls on a weekday
This only applies to hourly paid employees, as a public holiday will result in fewer hours in the hourly wage and thus less money paid out in the next pay period. For these days, the SH savings are used.
Many companies set up a public holiday savings scheme to create security for employees and their finances for when there is a public holiday. Each month, an amount/percentage is set aside in such savings, which is used to pay out on a public holiday corresponding to the number of hours lost.
It varies from company to company how they pay out the SH savings. Some have a set amount for all employees, while others allow employees to decide how much they want to contribute and whether they want to receive a payout.
Then the question also arises... what about a new employee who hasn't earned enough in SH savings?
If the company is in the situation that a new employee has not earned enough in SH savings, they pay out an amount corresponding to the "lost hours", let the savings go into the red and be aware of this.
But what if the employee leaves and the savings are in the red?
It is then offset against the last salary payment. If the employee does not resign, the balance is equalised throughout the year and therefore becomes positive.