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Wall Street Journal complains about workers using their sick days
(boingboing.net)
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And that’s basically it!
It's literally you just being paid even though you're not working. Employers are required to do it in Europe. The pay is the same rate as if you were working but it's got a different name for tax purposes so companies can differentiate between employees being compensated for working and employees just being paid to be off.
Also you have what are called "unsociable working hours compensation" Which means nights, and weekends. And "unsociable working dates compensation" which means national holidays.
Unsociable working hours is usually 1.5x base rate, and unsocial working dates is 2x base rate. So a night shift over the Christmas period would be both so it would be 2.5x base rate. So in other words if you work for 1 hour, you get paid as if you'd worked 2 hours 30 minutes.
The United States operates a different system and companies can get out of it sometimes which isn't really possible in Europe.