Employee Severance Pay Rights
AdminLabor Law
Detailed information about severance pay eligibility conditions and calculation methods.
Employee Severance Pay Rights
Severance pay is one of the most important financial rights of employees. In this article, we will examine the conditions for eligibility and calculation methods for severance pay.
Eligibility Conditions
To be eligible for severance pay, the employee must have worked for the same employer for at least one year. This right arises when the employment contract is terminated for certain reasons.
Calculation Method
Severance pay is calculated based on the employee's last gross salary for each full year of employment. The severance pay ceiling is updated annually.