What Exactly is Paid Time Off?

Paid time off (PTO) is time that an employee does not actually work but still receives payment for that time. Each company's policy is different, but typically PTO is used by employees to address personal issues such as a death in the family, family matters or medical concerns. The wages paid during PTO usually mirror the employee's salary or are based on a payment structure detailed in the employee handbook. Usually an employee receives a set number of PTO days annually based on his or her length of service with the company. This time off can be particularly beneficial for mourners observing shiva.  In a 2012 survey by the Society for Human Resource Management, 51 percent of major companies reported having a PTO plan.