End of Service (EOS) benefits all depends on the time period an employee works in a company and based on that he will be awarded cash benefits towards ending his services from the company.
Employees leave the company in two situations, either they will resign or will get terminated from the company. EOS benefits will applicable in both the sitaution as follows:
IN CASE OF RESIGNATION:
Scenario 1:
If an employee resigns in less than 2 years of work then he will not be entitled for End of Service (EOS) benefits. To get these benefits he should have to complete minimum 2 years of employment.
Scenario 2:
If an employees stays and works in the company for more than 2 years and less than 5 years. He will be entitles to get 1/3rd of his EOS benefits. EOS Benefits will be half of his Salary in this case.
Scenario 3:
If an Employee complete 5 years in a company then he will be entitled to get 2/3rd of his End of Service Benefits along with Full Salary %
Scenario 4:
If an Employee complete his 1o years of service and then resigns, he will be entitled for Full End of Service Benefits Awards with % of Full Salary
CALCULATE YOUR END OF SERVICE BENEFITS NOW! IN CASE OF TERMINATION:
Scenario 1:
If an Employee gets terminated by his employer or company before 5 years of his service then he will be entitles for Half Salary
Scenario 2:
If an Employee get termianted after completion of 5 years, then he will be entitled for Full Salary. Calculator Link Here
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