Severance pay is an employment entitlement arising where an employee with at least one year of service leaves employment in one of the circumstances prescribed by law.
Basic conditions
- At least one year of service
- Termination in a legally qualifying manner, such as justified termination, retirement, military service or marriage of a female employee, as applicable
The calculation generally uses thirty days of gross pay, including qualifying benefits, for each full year, subject to the statutory cap. The calculation tools on this website provide approximate figures only.
This article is provided for general information only and does not constitute legal advice. Please consult a lawyer regarding your specific circumstances.