Severance pay:

Remarks

Art. 42 (1) LC and 14 Decree 2003.
Severance pay is reserved for cases where the employer has followed an illegal unilateral termination of employment contract and the employee does not wish to be reinstated (Article 42 LC) and terminations in compliance with provisions in Clause 1, 2, 3, 5, 6, 7, 9 and 10, Article 36 of this Code (Article 48 LC).

Article 48 (1) LC: (1)[…] the employer is responsible for paying severance allowance to the employee who has worked regularly for a period of at least full 12 months. A half of the monthly wage is payable for each year of work.
For more detailed rules on calculating the worked period, see 48 (2) and (3).

tenure ≥ 6 months: 0 months

tenure ≥ 9 months: 0 months

tenure ≥ 1 year: 0.5 months

tenure ≥ 4 years: 2 months

tenure ≥ 5 years: 2.5 months

tenure ≥ 10 years: 5 months

tenure ≥ 20 years: 10 months

Redundancy payment:

Remarks

Article 49. Job-loss allowance.
(1) Where the employment contract is terminated according to Article 44 [Changes in structure, technology or due to economic reasons] and 45 [merger, consolidation, division, or separation of enterprises and cooperatives] of this Code and the employee has worked on a regular basis for the employer for at least 12 months, the employer shall pay a job-loss allowance to the employee. This job-loss allowance shall be one month wage for each year of employment, and shall not be lower than 2 month’s wage.
For more detailed information on the qualified period of work for the calculation of job-loss allowance see Article 49(2) LC.

See also articles 14 and 15 of the 2015 Decree.

tenure ≥ 6 months: 2 months

tenure ≥ 9 months: 2 months

tenure ≥ 1 year: 2 months

tenure ≥ 2 years: 2 months

tenure ≥ 4 years: 4 months

tenure ≥ 5 years: 5 months

tenure ≥ 10 years: 10 months

tenure ≥ 20 years: 20 months