Question: What does this mean… It is proposed that one week remuneration for each completed year of service be paid as severance pay. I earn R5500 and have worked for the company for 1 year and 4 months
Answer:
This refers to retrenchment so you are most likely being retrenched. By law you should be paid one months notice and 1 weeks salary per year’s service completed. You will be due circa R6770 in severance. The 4 months falls away as this is not a completed year.
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I have been working at a company witch is under liquidation. I worked there for 5 and a half years, and was told only that the company is closing down. Am i not supposed to get severance pay???