10 years continuous service for full indemnity
My friend has been working for a private company for the last 9 years and 6 months. He would like to resign as he has a new offer. He will be giving the required notice of 3 months. How will the indemnity be calculated? Will it be affected as he has not completed 10 years in the company?
Name withheld
Answer: Yes, it will be affected. According to the law you have to complete 10 years continuous service to be eligible for full indemnity otherwise you will only get two-thirds of the total.
Your service, even after the 3-month notice — will be 3 months less than the required 10 years. But if the company so desires it can give you the full indemnity but you can’t demand it as you don’t fulfill the requirement.