How are terminal benefits calculated in Zambia?
According to the Employment Act, section 40 (1) (g) specifies severance pay at the rate of not less than 15 days pay for each completed year of service with the same employer. This means that severance pay is calculated by multiplying 15 days' salary by the number of years that an employee has rendered services to an employer. But you can use our website to calculate terminal benefits within minutes. Its the best platform for terminal benefits calculation in Zambia, Kenya, Uganda and Nigeria.
Steps to calculate terminal benefits
- (1) Enter your 15 days salary
- (2) Enter number of years worked
- (3) Check your calculated terminal benefits
Terminal Benefits means the gratuity, pension, dearness and other applicable relief and other applicable benefits including the right to have the appropriate revisions in the above benefits consistent with the practice that were prevalent in the Department. Upon termination, an employee is entitled to be paid any salary/wages which due to him/her at the time of termination. All payments accruing to the employee which are wrongfully withheld or deducted must be paid upon termination.
What are termination benefits?
In general, termination benefits may be provided to an employee as a result of either a voluntary or involuntary early termination of services. Termination benefits are those that are over and above the normal benefits (e.g., vacation pay, standard health care)