| Province
of Ontario - Employment Standards Act
In addition to Termination
Pay , many employees (who are not federally
regulated ) are entitled to a guaranteed minimum
payment of Severance Pay.
In order to qualify under this category, an employee must:
(1) be employed for a period of five years or more, and
(2) (a) be employed by an employer with an annual payroll in the Province
of Ontario of at least $2.5 million dollars, or;
(b) be part of a layoff of at least 50 employees
over a 6 month period.
If an employee qualifies for Severance Pay under (1) and
(2) above, the amount payable for Severance Pay is :
(a) one week salary per year for every completed year plus
(b) one twelfth of a week's salary for every additional month of completed
service
for a maximum of 26 weeks Severance Pay. |
