Severance Pay Policy

severance pay  The meaning of SEVERANCE PAY is an allowance usually based on length of service that is payable to an employee on termination of employment  The maximum allowed severance is eight weeks Severance is calculated on base pay only Employees may choose to receive severance pay as a salary continuation

Who gets severance pay You get severance pay only if you've worked at least 5 years for your employer and: The rules about severance pay are Separation benefits can be distinguished depending on the reasons for dismissal Severance pay refers to any situation contemplated by Article 4 of

The employer must pay wage and overtime pay three days after the data of termination and other benefits such as severance pay, reimbursement for unused vacation According to the Department of Labor , the Fair Labor Standards Act does not require employers to provide severance pay to employees