Reminder: Updates to Annual Leave Accrual Cap (Thailand)
Distribution: Thailand-based employees
Please be reminded that from 1 April 2015, your annual leave maximum accrual cap will be reduced from 40 days to 30 days. This means that your annual leave, which accrues on a monthly basis, must not exceed 30 days at any one time. Any leave in excess of 30 days will be forfeited.
To ensure a smooth transition, please start planning your leave now and take note of the one-time cash-out opportunity in March 2015.
Besides the Automatic Cash-Out above the maximum accrual cap of 30 days as at 31 March 2015, eligible employees who are hitting the cap may need to further elect Optional Cash-Out in blocks of 5 days, 10 days or 15 days. Otherwise if Optional Cash-out is not elected, their leave accrual in April 2015 will be forfeited as the leave balance as at 31 March 2015 is already at the maximum accrual cap.
Notes:
• Please ensure all your leave applications (including cancellations) up until 31 March 2015 are submitted and approved by your manager in Workday latest by mid-March 2015.
• For any advance annual leave to be utilized starting 1 April 2015, we would recommend that you apply them in Workday only from 1 April 2015 onwards.
• The one-time cash-out, which is subject to personal taxes based on the respective country’s tax laws, will be added to your payroll in the month of May 2015.
If you would like to find out more about this change, please refer to the attached memo that was sent out earlier or reach out to Ask HR if you require any clarifications.