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In the workplace, many employees with more than 10 years of service may face the termination of the employment contract by the employer. At this time, the main concern is the amount of financial compensation. So, under the current Employment Contract Law, can employees receive double economic compensation? Let's ** this issue together.
First of all, according to the provisions of the Labor Contract Law, the basis for calculating severance compensation is the actual salary of the employee, and the number of years of compensation depends on the number of years of service. For example, an employee with 10 years of service should be compensated equivalent to 10 months' salary, which is the minimum standard prescribed by law.
In practice, some units will adopt the "N+1" model, that is, pay an extra month's salary on top of the statutory compensation. Some units may offer "2n" compensation, but this is rare. For employees who want to negotiate higher compensation, negotiating with their employer is a viable avenue. However, we must also be aware that most units have their own bottom line, which is to provide compensation of "n+1" at most. Therefore, employees need to be mentally prepared to actively look for new employment opportunities to avoid financial impact due to unemployment.
In particular, it should be noted that the Employment Contract Law stipulates a special circumstance: if an employee is less than 5 years away from the statutory retirement age, the enterprise shall give double economic compensation when the employee unilaterally terminates the employment contract, i.e., "2n". However, for employees who have not yet reached this age group, double compensation is not supported by law, but normal compensation is not affected.
The specific calculation of compensation should be based on the average salary of the employee in the past year. For example, if the average monthly salary is $6,000, then the total compensation for 10 months should be $60,000. This is crucial because the amount of compensation must be tied to the employee's full salary, otherwise it may result in financial losses.
Finally, I would like to emphasize that as an employee, it is very necessary to understand and protect your legitimate rights and interests. I hope this article can help you correctly understand the economic compensation rules under the Labor Contract Law, and provide more protection for you in the workplace. Thank you for reading, talk about retirement knowledge every day, I focus on the field of social security and retirement, welcome to follow my Baijia account to get more relevant information.