What is the difference between compensation and severance pay?

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What is the difference between compensation and severance pay?

Therefore, notice pay is a compensation that must be paid by the employee who will quit the job without a just cause, or the employer who dismissed the employee without a just cause, due to not notifying the other party beforehand, while the severance pay is a compensation to the employee who leaves the job if the conditions are favourable.

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Who is given severance pay?

Severance pay is a payment that allows the employee to receive compensation for his/her labor during the service period. According to the Labor Law, a person must have worked at that workplace for at least 1 year in order to receive severance pay. Severance pay is given to employees who have completed 1 year and whose employment contract has been terminated by the employer.

In which cases is severance pay paid?

The article has also been edited. In the event that the employer terminates the employment contract of the employee immediately with a valid reason other than the employee's behavior contrary to moral and goodwill rules, the employee will still be entitled to severance pay.

What is compensation and severance pay?

According to Article 14 of the Labor Law No. 1475, severance pay is paid to an employee who is terminated after working at a workplace for a certain period of time or who quits his/her job due to retirement, equal to the year he worked. While the severance pay, the conditions of which are determined by the Labor Law No. 4857, provides financial security to the employees ...

Is severance pay paid to the worker who is imprisoned?

Therefore, if the detention period exceeds the notice period specified in the relevant article, the employer gives the right to terminate for just cause, and severance pay is not in question. Even if a worker in this situation is entitled to severance pay, he will not be entitled to reemployment.

How to get severance pay?

Some conditions are stipulated in order to be entitled to severance pay. Not working at the workplace for at least 1 year, working with an indefinite-term employment contract are some of these conditions. If there is a fixed-term employment contract, there is no entitlement to compensation, but there are some exceptions to this situation.

How long does it take to receive his compensation?

Then, if the employee's absence from work due to his detention or arrest reaches 2 to 8 weeks, depending on the working time at the workplace, severance pay must be paid.

Is the arrested employee paid a salary?

The arrest Since the employment contract of the worker who cannot continue to work for this purpose will be suspended, the worker will be considered on unpaid leave during these periods. The employer is not obliged to pay the employee for the days the employee is in custody or detention.

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