Saturday, January 27, 2018

Separation

END OF CONTRACT
Except for the regular employees, there will be contract period for all employees. You are still encouraged to prepare/notice end of contract letter at least 30 days before the actual end date.
And, make sure the end of contract provisions (if any) stipulated in the contract paper are satisfied.
For example, a seasonal employee will be dismissed on the end date regardless of her/his performance but for a probationary employee you need to provide the basis/assessment result why the probationary employee cannot be a regular one.

RESIGNATION
An employee may terminate without just cause the employee-employer relationship by serving a written notice on the employer at least one month in advance. The employer upon whom no such notice was served may hold the employee liable for damages.
However, if the employee and employer has a written contract of employment or there exists a collective bargaining agreement (CBA) between them that stipulates a period less than one month, then the written notice of resignation may be submitted in such agreed period.


Labor Code, recognizes the right of an employee to terminate the contract of employment without the need of serving such written notice to his employer, provided that the cause or causes of such termination is or are any of the following circumstances:
1. Serious insult by the employer or his representative on the honor and person of the employee;
2.  Inhuman and unbearable treatment accorded the employee by the employer or his representative;
3. Commission of a crime or offense by the employer or his representative against the person of the employee or any of the immediate members of his family; and
4. Other causes analogous to any of the foregoing;

TERMINATION

It will be discussed in a different article.

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MARKET ISSUES

[last partial update : 02/28/2018] Macro and Overseas (a) US interest rate : 1.25 ~ 1.5%, May increase 3 times in 2018 (b) US 10 yr bond...