Calculating Leave and Severance Payments

Time and Place
Start Time:Thursday, March 15, 2018 9:00 AM
End Time:Thursday, March 15, 2018 4:00 PM
Held By:Barbados Employers' Confederation
Location:Barbados Employers' Confederation
Regular Admission:$500.00 Early Bird / $500.00 Late Bird (Members)
 $600.00 Early Bird / $600.00 Late Bird (Non-members)
 

Description

CALCULATING  LEAVE AND SEVERANCE PAYMENTS

The key to good decision making is having the right information and here lies the importance of understanding how to calculate leave for employees. This enables a business to have good checking and balancing along with compliance with deductions for National Insurance. This full day program is designed to expose individuals to the fundamentals of calculating leave and NIS requirements and an introduction to HR Metrics. The Severance Payment Act requires an employer to make a compensation payment called a severance payment to an employee who is dismissed because of redundancy and who fulfills the other prescribed conditions. It also requires an employer to make such a payment to an employee who has been laid off or kept on short time within the terms of the Act.

Participants Will Learn

• How to calculate sick leave and the relevant deductions

• How to calculate holiday pay and the relevant calculations

• When to deduct NIS and PAYE

• Introduction to HR Metrics and Workforce Analytics

• Understanding the Severance Payment Act

• Completing severance rebate forms

• Calculating average earnings

• Actual earnings vs NIS insurable earnings

• Eligibility for full pension

• Calculating severance

 

Training Methods

• Power Point Presentations

• Interactive Discussions

• Group Exercises

 

Who Should Attend

• Human Resource Professionals

• Finance and Accounting Professionals

• Heads of Departments

• Administrative Professionals

• Business Owners

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Additional Notes:
To all participants, this is a full day session

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