Does anyone know what's the severance policy? Do you get any? Is it based on years served? Someone asked this in thread below, but no one answered, and I was wondering the same.
I am hearing multiple things from multiple sources and can not be confirmed. If any one knows about the severance please comment.
Originally posted by Anonymous | Post ID: @Ycpk9Uf
current month + 2months severance + 4 months (for 3years 8months) + regular retirals
Above is monthly pay.
For each completed year you get 1 month salary. Over and above this in the last round of layoffs that happened in my team people got 2 months extra salary - but it was capped to 15 months of salary at max. So if you have competed 10 yrs and 8 months you will get 12 months of salary.
Someone there for 20 yrs would get 15 months salary.
This is gross salary as in your CTC salary.
Leave encashment and other stuff will happen as normal in final settlement.
Hope this clerifies
Please someone tell it clearly, if a person has X years and Y months of service in Oracle then how many months of salary she or he will get ? Is there any condition ? Is it full salary ( including pf, gartuity etc) or only take home salary after deductions or only the basic. What about earned leaves ? Will 45 days counted as two months or plain 45 days ? Let me give one example : For a person having 3 years 8 months of service in Oracle with 45 days of earned leaves how much she will get ?
Is there any maximum number of months for which they will be paying the compensation ?
A month's sal for each year served, plus notice period months, and any earned leaves saved. Plus gratuity, super annuation, etc.