The severance pay shall be calculated as described in labour legislation corresponding to 21 days remuneration for yearly of the primary 5 years of service and 30 days remuneration for each extra yr of service offered that complete amount of severance pay shall not exceed 2 years remuneration. With out prejudice to the legal guidelines offered in relation to the granting of pension or retirement advantages to employees. Severance pay shall be calculated on the concept of the remuneration remaining because of employee for individuals who’re paid on day by day, weekly and month-to-month foundation and on the typical foundation of the day-after-day remuneration for people who are paid at piece expenses basis.
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