How to calculate severance pay in Myanmar?
Six months up to one year of service: half of one month’s salary. One to two years of service: one month’s salary. Two to three years of service: one and a half months’ salary.
How to calculate SSb in Myanmar?
SSB calculation is based on the worker’s salary. The employer must pay 3 percent and the worker must pay 2 percent, making a total of 5 percent of the worker’s salary. There is a maximum cap for the monthly salary used in the calculation of 300,000MMK.
What is earned leave in Myanmar?
Annual Leave or Earned Leave
An employee is entitled to 10 working days of annual leave (also referred to as earned leave) per year for those who have completed at least 12 months of continuous service with one employer. This type of leave can be carried over for up to 2 years from issuance.
What is casual leave in Myanmar?
Casual leave is given to all employees, even employees falling under the probationary period. … Myanmar law provides that employees are only entitled to 30 days of paid sick leave per contractual year after the completion of the first six months of continuous service.
What is the retirement age in Myanmar?
Old-age pension (superannuation): Age 60 with at least 180 months of contributions. Partial pension: Age 60 with less than 180 months of contributions. Disability pension: Must be assessed as incapable of any work and have at least 180 months of contributions.
What is Myanmar Labour law?
Pursuant to Myanmar labour laws, at least 1 day per week shall be granted as a paid rest day. … If an employee is required to work overtime, he or she is entitled to overtime pay at double the basic wage / salary. Overtime is usually limited to a maximum of 12 hours per week, or up to 16 hours in special cases.
What is SSB in Myanmar?
The Social Security Board (Burmese: လူမှုဖူလုံရေးအဖွဲ့; abbreviated SSB) administers Myanmar’s social security programs, including benefits and contributions. … The board operates three hospitals and 92 social security clinics.
What is Social Security contribution in Myanmar?
Social security contributions
The rates of contribution by employees and employers are 2% and 3% of the total salaries and wages, respectively. The contribution must be in Myanmar kyats regardless of the currency in which the employee is paid.
How many types of Labour law are there?
There are two broad categories of labour law. First, collective labour law relates to the tripartite relationship between employee, employer and union. Second, individual labour law concerns employees’ rights at work and through the contract for work.
What is the casual leave?
Casual Leave(CL) are granted for a certain unforeseen situation or where you are required to go for one or two days leaves to attend to personal matters and not for vacation. In case of casual leave normally company’s strict maximum to 3 days in a month. In such cases, the person has to take the permission in advance.
What are the Labour laws in HR?
The Minimum Wages Act, the Payment of Wages Act, the Payment of Bonus Act, the Equal Remuneration Act and a few others are likely to be merged. The Labour Code on Industrial Relations will combine Industrial Disputes Act, 1947, the Trade Unions Act, 1926, and the Industrial Employment (Standing Orders) Act, 1946.
What severance pay means?
Severance pay is often granted to employees upon termination of employment. It is usually based on length of employment for which an employee is eligible upon termination. … Severance pay is a matter of agreement between an employer and an employee (or the employee’s representative).