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    Severance Package - Summary by YOS

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    Sandy Ratulangie
    The document contains two tables: 1) A Severance Table that lists monthly salaries owed to employees based on their years of service upon termination, ranging from 1 month's salary for <1 year of service to 9 months' salary for 8+ years of service. 2) A Service Table that lists additional monthly salaries owed based on years of service, ranging from 0 months' salary for <3 years of service to 10 months' salary for 24+ years of service. It also provides an example calculation for an employee with 10 years of service and includes a third table that consolidates the severance and service payments along with a housing and medical allowance for various years of service.

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    © All Rights Reserved
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    Severance Package - Summary by YOS

    Uploaded by

    Sandy Ratulangie
    22 views2 pages
    The document contains two tables: 1) A Severance Table that lists monthly salaries owed to employees based on their years of service upon termination, ranging from 1 month's salary for <1 year of service to 9 months' salary for 8+ years of service. 2) A Service Table that lists additional monthly salaries owed based on years of service, ranging from 0 months' salary for <3 years of service to 10 months' salary for 24+ years of service. It also provides an example calculation for an employee with 10 years of service and includes a third table that consolidates the severance and service payments along with a housing and medical allowance for various years of service.

    Original Description:

    Summary of Severance and Service Table by YOS

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    The document contains two tables: 1) A Severance Table that lists monthly salaries owed to employees based on their years of service upon termination, ranging from 1 month's salary for <1 year of service to 9 months' salary for 8+ years of service. 2) A Service Table that lists additional monthly salaries owed based on years of service, ranging from 0 months' salary for <3 years of service to 10 months' salary for 24+ years of service. It also provides an example calculation for an employee with 10 years of service and includes a third table that consolidates the severance and service payments along with a housing and medical allowance for various years of service.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    22 views2 pages

    Severance Package - Summary by YOS

    Uploaded by

    Sandy Ratulangie
    The document contains two tables: 1) A Severance Table that lists monthly salaries owed to employees based on their years of service upon termination, ranging from 1 month's salary for <1 year of service to 9 months' salary for 8+ years of service. 2) A Service Table that lists additional monthly salaries owed based on years of service, ranging from 0 months' salary for <3 years of service to 10 months' salary for 24+ years of service. It also provides an example calculation for an employee with 10 years of service and includes a third table that consolidates the severance and service payments along with a housing and medical allowance for various years of service.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    The following are the Severance and Service Tables:

    Severance Table (Article 156 point 2)


    Years Monthly
    of Salaries
    Service
    <1 1
    1 < 2 2
    2 < 3 3
    3 < 4 4
    4 < 5 5
    5 < 6 6
    6 < 7 7
    7 < 8 8
    >= 8 9

    Service Table (Article 156 point 3):

    Years of Monthly
    Service Salaries
    <3 0
    3 < 6 2
    6 < 9 3
    9 < 12 4
    12 < 15 5
    15 < 18 6
    18 < 21 7
    21 < 24 8
    >= 24 10

    Example of a permanent employee with 10 years of service:


    ((2 x 9) + (1 x 4)) monthly salaries = 18 + 4 = 22 months salaries

    Note:

    Salaries = Base Salary and Other Bonuses/Allowances paid regularly on monthly basis that are
    not related to attendance and performance

    SR Page 1 8/26/2019
    The following is summary table by years of service according to the Article 164 sub section 3
    of Labor Law No. 13 of 2003:

    2 Severance Table + 1 Service Table


    In lieu of housing &
    Severance Service medical (15% of TOTAL
    Services
    severance+service) monthly
    Year salaries
    156(2) 156(3) 156 (4)
    <1 2 0,30 2,30
    1 - 1.9 4 0 0,60 4,60
    2 - 2.9 6 0,90 6,90
    3 - 3.9 8 1,50 11,50
    4 - 4.9 10 2 1,80 13,80
    5 - 5.9 12 2,10 16,10
    6 - 6.9 14 2,55 19,55
    7 - 7.9 16 3 2,85 21,85
    8 - 8.9 18 3,15 24,15
    9 - 11.9 4 3,30 25,30
    12 - 14.9 5 3,45 26,45
    15 - 17.9 6 3,60 27,60
    18
    18 - 20.9 7 3,75 28,75
    21 - 23.9 8 3,90 29,90
    24 > 10 4,20 32,20

    SR Page 2 8/26/2019

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