Alexandoy
VIP Contributor
In our country the law states that a separation pay for an employee is computed as ½ month of the salary for every year of service. That means if you have worked in the company for 20 years then you get 10 months of your salary when you resign or retire. But most big companies give more than the law. Usually the separation pay is 1 month for every year of service. But for those with a tenure of 20 years are given a premium as a token of the employee’s loyalty.
Usually the banks here give a retirement pay of 2 years for every year of service, that’s for the 20 years or more of tenure. If you are the HR head of a big company that is earning a good profit every year, how much separation pay would you give and how much for the retirement?
Usually the banks here give a retirement pay of 2 years for every year of service, that’s for the 20 years or more of tenure. If you are the HR head of a big company that is earning a good profit every year, how much separation pay would you give and how much for the retirement?
