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Illustrations of indemnities in cases of Resignation or Termination when a worker is contributing to PRGF or Private Pension Scheme
Worker contributing to PRGF
Indemnities in cases of Resignation (which includes cessation of work, abandonment of work or breach of contract)
- End of year bonus on the basis of 1/12th of earnings, if the worker has been in continuous employment for 8 months during the year he resigned(worker up to Rs100,000 per month)
- Refund of accumulated annual leave(worker up to Rs600,000 per annum)
- Contributions for past services to the PRGF on the basis of 4.5% of the last monthly remuneration X number of months worked with the present employer as from January 2020 up to the first date of contributions.
- Shortfall of contributions to the PRGF as communicated to the employer by the Administrator
Indemnities in cases of Termination
- Refund of Accumulated annual leave(workers up to Rs600,000 per annum)
- Outstanding current annual leave, except in case of termination of employment on grounds of misconduct.(workers up to Rs600,000 per annum)
- End of year bonus on the basis of 1/12 of earnings(workers up to Rs100,000 per month)
- Contributions for past services to the PRGF ( 4.5% of the last monthly remuneration)
- Shortfall of contributions to the PRGF as communicated to the employer by the Administrator
Worker contributing to Private Pension Fund
Indemnities in cases of Resignation (which includes cessation of work, abandonment of work or breach of contract)
- End of Year Bonus on the basis of 1/12th of earnings, if the worker has remained in continuous employment for at least 8 months during the current year (workers up to Rs100,000 per month)
- Refund of accumulated annual leave(workers up to Rs600,000 per annum)
- Contributions for past length of service on the basis of 15 days 'remuneration X No of months of service/12 for the period contributions were not made to the Private Pension Fund as from January 2020 – contributions to be to the MRA
Indemnities in cases of Termination by the employer
- End of Year Bonus on the basis of 1/12th of earnings(worker drawing up to Rs100,000 per month)
- Refund of accumulated annual leave(worker up to Rs600,000 per annum)
- Refund of current annual leave, except in case of misconduct(worker up to Rs600,000 per annum)
- Contributions for past length of service on the basis of 15 days’ remuneration X No of months of service/12 for the period contributions were not made to the Private Pension Fund as from the date of entry – contributions to be made to the MRA
