Redundancy Payment Clause Samples
A Redundancy Payment clause defines the employer’s obligation to provide compensation to employees whose positions are eliminated due to redundancy. Typically, this clause outlines the calculation method for the payment, such as basing it on the employee’s length of service or salary, and may specify eligibility criteria or exclusions. Its core function is to ensure financial support for employees affected by organizational restructuring, thereby offering protection and clarity in situations where jobs are made redundant.
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Redundancy Payment. (1) In the event that the employer and employee agree on transferring from the redundancy payment provisions of the Austrian Act on Salaried Employment/Redundancy Payment Act to the BMVG (Company Employee Severance Funds Act), both the employer and the employee are entitled to withdraw from the transfer agreement within one month from the signing of the agreement without providing any reasons. This does not apply if the transfer agreement is governed by a company agreement according to Art. 97 (1) 26 of the Austrian Labour Constitution Act (ArbVG) (determination of framework conditions for the transfer to the redundancy payment provisions of the BMVG).
Redundancy Payment. In the event that an employee is made redundant they are entitled to redundancy payments as per the following provisions. Payment will be based on the following: • One months notice of redundancy or payment in lieu of notice; and • 10 percent of total ordinary pay for the preceding 12 months; and
Redundancy Payment. 21.1 If you were last engaged before 6 April 1990 you are paid under Scale 1 (but a minimum of Scale 2 applies). If you were engaged after that you are paid under scale 2.
Redundancy Payment. Where employment is terminated because of redundancy, an Employee will be entitled to redundancy pay in accordance with the NES for the first two years of service and then, three weeks per year of service thereafter, at the Permanent Employee's current annualised salary and pro rata for completed months.
Redundancy Payment. If you are a permanent staff member ACC will make a redundancy payment as follows: 3 months base salary; $43,260. The redundancy payment will be made in a lump sum and taxed at the appropriate rate as stipulated under the Income Tax Act 1976 and amendments. The redundancy payment will be payable in the pay period following the date of termination. The payment to be made will be contingent on you remaining at work and performing your normal duties until the expiry of the period of notice, unless the appropriate General Manager approves otherwise. The date of termination is your last day of work.
Redundancy Payment. An Employee, whose employment is terminated by reason of redundancy will be entitled to the redundancy payment provided in table 1 below, based on the Employee’s salary rate at the date of cessation of employment and any variation(s) in service fraction over the total period of employment. Less than 1 year Nil 1 year and less than 2 years 4 weeks 2 years and less than 3 years 6 weeks 3 years and less than 4 years 7 weeks 4 years and less than 5 years 8 weeks 5 years and less than 6 years 10 weeks 6 years and less than 7 years 11 weeks 7 years and less than 8 years 13 weeks 8 years and less than 9 years 14 weeks 9 years and less than 10 years 16 weeks 10 years and over 18 weeks
Redundancy Payment. Employees shall receive redundancy pay of four (4) weeks ordinary pay for each completed year of service plus a pro-rata amount of one-third (1/3) of a week’s ordinary pay for each completed month of service rendered in the employee’s final year of employment.
Redundancy Payment. Employee Protection Provisions
Redundancy Payment. 68.1 An employee must have 12 months’ continuous service with AgriFutures to qualify for a redundancy payment.
68.2 If an employee’s employment is terminated on redundancy grounds, the employee will be entitled to either:
a. three weeks base salary for each completed year of service with AgriFutures (to a maximum 48 weeks’ salary); or
b. payment in accordance with the relevant provisions of the Fair Work ▇▇▇ ▇▇▇▇; whichever is the greater.
68.3 Redundancy pay will be calculated on a pro rata basis where the employee has worked permanent part-time hours during the period of service with AgriFutures.
68.4 Absences from work which do not count as service will not count as service for severance pay purposes.
Redundancy Payment. Any payment made in accordance with the terms of the Civil Service Compensation Scheme in force as at the Commencement Date and applicable to Public Sector Employees Relevant Transfer: has the meaning ascribed to it in clause 1.1 of this agreement. Retained Employees: those employees employed by the Service Provider immediately prior to the Service Transfer Date and who after the Service Transfer Date will provide the Services in addition to the Transferring Employees and any New Employees .