Unformatted text preview: Severance payment: $22,500 (highest amount allowed by the law) x 2/3 x 3 = $45,000 $45,000 is to minus the mandatory provident fund How is severance payment calculated?
Example 3 Salary in the last month: $22,500 Years of service: 30 Severance payment: $390,000 (highest amount allowed by the law) $390,000 is to minus the mandatory provident fund...
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- Spring '11
- Law, Mandatory Provident Fund, severance payment, unreasonable dismissal, long service payment