MHR 523 Chapter Notes - Chapter 13: Disability Insurance, Unemployment Benefits, Pension
23 Jul 2016
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Employee bene ts: indirect nancial payments given to employees. They may include supplementary health and life insurance, vacation, pension plans, education plans, and discounts on company products. Employment insurance (ei): a federal program intended to provide temporary nancial assistance to eligible persons who experience interruption to their work though no fault of their own. Pay in lieu of reasonable notice: a lump-sum equal to an employee"s pay for the notice period provided to employees who cease working immediately. Severance pay- an additional payout on top of the minimum notice period requirements and only applies if the speci c conditions in the applicable jurisdiction are met. In ontario, employees may be eligible for severance pay if (1) the employers annual. Ontario payroll is 2. 5 million or more, or (2) the employer is closing down the business and 50 or more employees will be losing their jobs within a six month period.
