Temporary and General Holidays
There are a number of factors to consider before deciding which two weeks termination pay period is right for you. While the actual timeframe may vary from company to company, the amount of time normally allocated by an employer will usually be around twelve weeks. Most companies reserve the right to reduce this timeframe in certain instances including sickness absence, holiday issues, involuntary termination, multiple layoffs, and the like. If an employee requests additional leave before their contract ends, most companies will grant it.
Each of these dates corresponds to one week, so if your contract states you are entitled to two weeks termination pay, you will receive two weeks worth of wages. When comparing two weeks’ pay periods, one of the major considerations to make is the length of time employees are employed with the company. For example, if you were employed for just two weeks, you would have been eligible to receive two weeks worth of wages – one for the week you were employed and the other for the two weeks following your termination. If you were employed for six months or more, you would have been eligible to receive six months worth of wages. These are just examples; the amount of time employees are employed with a particular company will vary.
The length of the two week period is not always an accurate measure of how much your pay is due. The exact calculation is determined by the HR department. An employee must provide all pertinent documentation to the HR department before calculating the amount of wages that they are entitled to receive.
What Is Temporary and General Holidays?
Two weeks’ worth of annual vacation pay is usually calculated as follows: two weeks x 25 hours x 40 percent or one year x 100 percent. Once the calculation is complete, the result is the amount of annual vacation pay that is owed. This calculation will be different for different employees. For example, it will be much higher for someone who has been employed for twelve months or more than what someone who has been employed for two weeks would receive. Vacation pay is usually a percentage of the employees gross wages.
How much money paid out as termination fees is also determined by the HR department. This is determined by looking at the number of days it took to terminate the employee, their age, how long they have been employed with the company and how many general holidays they have missed. General holidays are considered to be scheduled leave. If an employee has missed more than a specific number of days of their scheduled leave, they usually receive a notice of default from the employer. If the employer receives this default, they must then determine how much money is due and what are their options. A default may include reinstating the employee or paying them with money directly from the company (the money paid out would be less than the value of the actual cash severance pay).
Termination pay is typically a one off payment. If you need more money to cover additional expenses or you want to have more time to collect it, you must provide an appeal with your payroll records. The HR department must then look at the number of days that you have been employed and determine how many general holidays that you have missed. You will probably have to provide proof that you have provided notice of intention to terminate to the labour standards officer.