I would like to obtain information that realtes to the calculation of reddundancy payments. I have being informed that a Government Department has produced some recommend figures but that is all the information that I have. Any relevant help would be appreciated.
Marlene Husbands-Alexander
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One Response
EMPLOYMENT RIGHTS ACT1966
THE MAXIMUM ENTITLEMENT UNDER THE STATUTORY REDUNDANCY SCHEME IS £6600. THE CALCULATION IS MADE AS FOLLOWS:-
Employees age – No yrs continuous service Basic Wage multiplier
( MAX 20 ) per week
(Max £220)
up to 21 X ….yrs X £…… X 0.5=£….
22 to 40 X ….yrs X £…… X 1.0=£….
41 to norm
retirement age X ….yrs X £…… X 1.5=£….
3 typesof redundancy recognised by the law, a.cessation of business b.moving the place of business c.surplus of labour