
Notice Period and Compensation Calculation Tool
Thanks to the online notice pay calculation tool, you can instantly find out the notice pay you will receive or pay upon leaving your job according to the notice period, gross wage and working time, in accordance with the current legislation.
What is the notice period?
The notice period is the legal waiting period during which the employee or employer must notify the other party before terminating the employment contract. This period varies depending on the seniority of the employee and aims to terminate the employment relationship in an orderly manner. These periods determined by law increase depending on the employee's working hours.
What is Notice Compensation?
Notice compensation is the amount of compensation paid to the other party in case of terminations made without complying with the notice period specified in the law. If the notice period is not complied with, the employee or employer must be paid a fee equal to the notice period. This payment is calculated on the gross salary and aims to compensate for the employee's loss of rights.
How is the notice period calculated?
The notice period is determined according to the employee's total seniority in the workplace. As working hours increase, notice period also increases. In the Labor Law, these periods are defined as weekly. The correct period is determined by taking into account the total service period until the date of resignation and compensation is calculated accordingly.
How is Notice Compensation Calculated?
When calculating notice pay, gross salary is taken as basis. First of all, the determined notice period is multiplied by the weekly wage and the total compensation amount is found. Taxes and legal deductions are applied on this amount. Online notice compensation calculation tools eliminate the risk of manual errors by performing these operations automatically.
Who Can Receive Notice Compensation?
Employees working on an indefinite-term employment contract and who are dismissed or whose contract is terminated may be entitled to notice pay. However, notice pay may not be applied in some cases, such as a trial period, termination for just cause, or fixed-term contracts. Therefore, the form of termination and the type of contract are important.
How to Use the Online Notice Compensation Calculation Tool?
Entry and exit dates are entered in the online calculation tool, and then gross salary information is added. The system automatically calculates the severance period, notice period and the amount of notice pay to be paid. Thus, employees and employers can get clear results in seconds.
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