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Separation Pay

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1 Separation Pay on Sat Jun 04, 2011 9:34 pm

naslynne0329


Arresto Menor
If a company is operating for more than a decade. Do our Laws (Labor Code or any other Laws) obliges a company to have a Separation and Retirement Pay in place aside from paying SSS Benefits?

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2 Re: Separation Pay on Sun Jun 05, 2011 5:59 am

council


Reclusion Perpetua
naslynne0329 wrote:If a company is operating for more than a decade. Do our Laws (Labor Code or any other Laws) obliges a company to have a Separation and Retirement Pay in place aside from paying SSS Benefits?

Separation pay is mandatory and given for such separations made under authorized causes (retrenchment, redundancy, closure of business, losses, etc). Other than these and similar situations, there is none.

Retirement Benefit under Article 287 of the Labor Code is provides for in cases wherein the company does not have a retirement plan in place AND when the employee fulfils the following conditions - be at least 60 years old AND have served the current company for at least 5 years.



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3 Re: Separation Pay on Tue Jun 07, 2011 10:53 pm

santosmichele3109


Arresto Menor
hello,please help us by answering this,my father worked as aescurity guard for almost 15 yrs.he is under security agency he filed a vacation leave because he is sick he took 3 month
for the leave after 3 months he died but cannot go back to work.he died at the age of 58 is he able to get a separation pay?we didn't get anything from his company/security agency.thank you @more power.

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4 Re: Separation Pay Today at 8:37 pm

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