Who pays redundancy money

There are types of redundancy pay you could get: 'statutory' redundancy pay - what the law says you're entitled to. Employees you make redundant might be entitled to redundancy pay - this is called a 'statutory redundancy payment'. To be eligible, an individual must:. Could you afford to pay some of the money now and the rest next month? Communication with your staff is vital.

During redundancy, employees will naturally be . How much redundancy pay you get depends on your wage, how long you have. When your employer gives you your redundancy payment they must also give . I am about to be made redundant after working at an organisation for two years. How will my employer work out what to pay me? Employees may be entitled to redundancy payments if they have been. If you have no contractually-enhanced redundancy pay arrangements, all your . For anyone else, although you're not entitled to redundancy money, but you are eligible for notice period money and any holiday pay you're owed.

Statutory Redundancy Pay is the money an employer is obliged to pay its employees by law if they are made redundant.