McEvoy and Associates Redundancy Information
Redundancy Information
Have you recently been made redundant or know somebody that has?
There are many reason as to how redundancy can arise, here are a few examples:
1. Relocation- the role which the employee was carrying out no longer exists at the original location.
2. Cessation or shrinking or business- Role is no longer required or tasks associates with role are to be shared out among others.
3. Re-structuring- Tasks are to be carried out in the same manner but by an employee who can also carry out other tasks which the incumbent employee is unqualified to do.
Redundancy Payment:
Individuals who are leaving employment may receive tax free payments. €10,160 plus €765 for each complete year of service with the employer. The amount calculated above may be increased by a further €10,000 subject to certain conditions.
If we can assist you with further information on this topic please feel free to call into McEvoy and Associates today