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21/09/2010 05:28:24
Re: BuyOut Urgent

I accepted an offer from the new company. They want to buy me out from my current employer, but the new company not able to make the payment on the day I leave my current employer. The payment need to be made on the day I leave. New company not able to make the payment on time. Current company accepted my resignation.

1. New company asking me if I could pay first, then will pay me back later, I have many commitment as a parent, I am not able to pay first. If new company stressing me to pay, is this against the labour law?
2. If new company not able to make the payment on time, what is the consequences to me? Shall I just leave my current employer and start working on the new company? I don't feel this is right doing this.
3. Who shall responsible for the buy out amount? New company or myself?
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KL Siew
21/09/2010 08:42:06
You are the one responsible to pay the indemnity in lieu of notice to your present employer. If someone wants to pay for you, he can do so by all means.
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