Severance Pay

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Severance Pay


in Soviet labor law the sum of money to be paid in termination of a labor contract in the cases provided for by law. Severance pay in the amount of the average two weeks’ wage is to be paid at termination of the labor contract if termination is caused by conscription or entrance of the worker or employee into military service or by refusal of the worker or employee to be moved to another location together with his enterprise, institution, or organization. Severance pay is also due upon cancellation of the labor contract on the initiative of the administration in the cases of liquidation of the enterprise, institution, or organization; reduction of the staff or of the number of workers; obvious unsuitableness of the worker or employee to fulfill the under-taken service or to perform his work for reasons of insufficient qualification or of health; or reinstatement to the work of a worker or employee who had previously done the work. Severance pay in the above, amount is to be paid also on premature cancellation on the request of the worker under contract for work for a fixed term in connection with violation by the administration of labor legislation or of the collective or individual labor contract. A smaller amount of severance pay is set for seasonal or temporary workers. To persons simultaneously holding several jobs severance pay is due only in case of dismissal from the main duty.

In many cases, such as cancellation of the labor contract on the wish of the worker or violations of labor discipline, no severance pay is due.


References in periodicals archive ?
Specifically, the guidance would include formal definitions of "substantial risk of forfeiture" and "bona fide severance pay plan.
For example: if you were paid 39 weeks' severance pay (not including payment in lieu of notice) and then recommence employment within the public sector 10 weeks after the redundancy you would be required to repay 29 weeks' pay.
A show of hands during the union meetings last week indicated members were willing to strike over the severance pay proposals.
Associate Publisher Larry Orkus declined to comment on the situation, but confirmed in an e-mail that the layoffs had occurred without severance pay.
For a discussion of additional considerations that apply where severance pay is contingent upon a change in corporate ownership, see Chapter 34, Golden Parachute Plan.
One judge dissented, agreeing with the Eighth Circuit's reasoning; however, based on that reasoning, the judge said, Rase's payments still were FICA wages since he had accepted the severance pay without relinquishing his tenure rights.
One district court granted them summary judgment, holding that the severance payments were not wages within the meaning of FICA; see Tax Trends, "Teacher Severance Pay Not Subject to FICA" TTA, December 2004, p.
AFTER MORE THAN A YEAR on strike, Securicor Indonesia workers in July declared victory in a campaign to win severance pay for transferred workers, as well as backwages for scores of fired strikers.
The Illinois Supreme Court has ruled that a corporation's sole shareholder, officer and director, as well as a separate corporation he controlled that performed substantial administrative support for the first corporation, were not liable for unpaid employee vacation and severance pay.
Although the archdiocese kept all of its approximately 9,000 employees on full salary though the end of September, it then notified them that an unknown number would be laid off October 3 and receive two weeks of severance pay.
If the terms are accepted, those not allowed to return to work would be given four weeks of severance pay, according to The Wall Street Journal.