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Citation Use the citation options below to add these abbreviations to your bibliography. Powered by CITE. Large Bowel Perforation. By definition, the term PTO refers to "paid time off" given by a specific company. Although the term can mean all types of paid time off, including vacation days, sick days and other time-off periods such as paid parental leave or bereavement leave after the death of a loved one, people often use PTO to mean, in particular, a policy in which all paid time off is lumped together into a single category for bookkeeping and usage purposes.
In many companies that have a unified PTO policy, employees don't separately accumulate sick days, vacation days and other types of sick leave, as they work at the company. Instead, over time they are given PTO days or hours they can take for any necessary purpose.
Often, these will be indicated on an employee pay stub that has the PTO acronym, so they can now how much paid time off they have available. Browse Abbreviations. Get instant explanation for any acronym or abbreviation that hits you anywhere on the web!
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Patella Tracking Orthosis Medical » Physiology. Please Take Off Governmental » Transportation. Payment Treatment and Operations Business » Accounting. While this often sounds good in theory, it can often become a very costly mistake for businesses. Private-sector employers typically use terms like sick leave, vacation time and personal days to refer to PTO.
Public-sector employers, such as local, state and federal government workers, cite paid time off as annual leave, which is the equivalent of sick leave, vacation time and personal days.
Employers will credit additional hours to their employees banks periodically. With a paid time off plan the employees would instead receive 30 days of paid time off. While the number of PTO days works out the same for the employee, the cost to employers often increases. To this end, paid time off policies benefit both employers and employees, by providing workers time off from work and thereby making them more productive employees, and helping employers in recruiting top candidates.
The Fair Labor Standards Act of regulates the number of working hours, a set minimum wage, overtime hours and classifying employees as either tax exempt and nonexempt. However, the federal law does not require employers to provide any type of PTO, such as sick leave, holidays time or paid vacation time.
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