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28/07/2010 13:51:08
Re: Annual Leave for retrenchment

hi KL Siew

My company is not doing very well lately. I've worked for the company for 4 years with a salary of RM3000.00. The boss has asked me to leave this Sept 2010 and willing to compensate me 2 months salary. My question is, I have 24 days of annual leave. Can that be converted into RM should I decide not to take any of the leave? If so, how is it calculated?

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KL Siew
28/07/2010 14:35:27
We will have to discuss it with your boss whether he is willing to do that.
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28/07/2010 14:44:18
Thanks for the prompt reply. If the boss agrees to the annual leave payment, is the formula Mthly Salary / 26 * No.of.days.annual.leave?

Another question, is the 2 months (6,000) compensation entitled to EPF? I think SOCSO is not.
If it is based on retrenchment benefit, the compensation should be 36,000 / 365 * 4.3 years of service * 15 = 6,361.64. If it is calculated this way, am I entitled to EPF based on this amount or 6,000?
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KL Siew
28/07/2010 18:51:59
Your calculation for annual leave and termination benefit is correct if you want to go according to the Employment Act. For EPF and SOCSO, I think you better consult EPF and SOCSO. Given them a call to find out.
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