The standards of severance pay on the seniority pension system under the Act shall be calculated in accordance with the provisions of Article 17 of the said Act. Please calculate it by yourself and fill in the field of “The severance pay agreed upon between the employer and employee”.) The principle of application at different stages for severance pay before and after the application of the Act:Īccording to Article 84-2 of the Act, the seniority of the laborer shall be counted from the first date of employment.įor the seniority before the application of the Act, the standards of severance pay shall be calculated in accordance with the then applicable laws and regulations If there were no applicable laws and regulations, they shall be subject to the rules formulated by each respective business entity itself, or agreed upon by employers and employees (For the seniority before the application of the Act, due to the standards of each business entity varying, the calculation of the estimated severance pay before the application of the Act is not provided with this calculator. If the labor contract is terminated according to Article 11, proviso to Article 13, Article 14 and Article 20 of the Labor Standards Act or Article 84 or Article 85 of the Labor Occupational Accident Insurance and Protection Act, the employer shall provide the laborer with the severance pay in accordance with the law. The estimated severance pay is calculated on the basis of the employment date, the end date of the labor contract, the date of application of the Labor Standards Act (hereinafter referred to as the Act), the date of conversion to the new system, the average wage, etc., that you fill in.
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