What is a compensation affected payment?

What is a compensation affected payment?

What is indemnification?

b) The period of sixty working days to claim the payment of the indemnities referred to in the previous paragraph must be counted from the separation of the employee in the first case and from the breach of the agreement in the second case.ORD. NO. 5236/236

b) The period of sixty working days to claim judicially the payment of the indemnities referred to in the preceding letter, must be counted from the worker’s separation in the first case and from the breach of the agreement in the second case.

As it is possible to appreciate, the law imposes on the employer the obligation to pay the indemnity in the terms provided in the aforementioned rule, in the event that the termination of the labor relationship is produced by any of the causes that such rule provides, not being able to be exempted from such obligation.

As can be seen, the aforementioned regulation suspends the claim period established in the first paragraph, for the term indicated therein, when the employee has filed a claim before the respective Labor Inspection.

Payment of claims insurance law

Social Security GuideCompensation for partial permanent disabilityCompensation in cash granted to the worker when, as a result of an accident at work or occupational disease, he/she suffers a decrease in his/her earning capacity, presumably permanent, equal to or greater than 15% and less than 40%.

The disability, defined as the “percentage of loss of earning capacity”, must be determined by the Commission of Preventive Medicine and Disability (COMPIN) in the case of occupational diseases and occupational accidents of workers whose employers are affiliated to the ISL or the Medical Commission of the respective employers’ mutual insurance company (ACHSD, IST or MUSEG) in the case of occupational accidents of workers whose employers are affiliated to one of these entities.

Read more  What is the due date Construction Act?

Types of insurance indemnity

There are two forms of coverage: replacement coverage, which provides the funds necessary to replace your property with the same type, quality and value of the lost items; and actual value coverage, which also provides coverage but discounts the depreciation of the items to be replaced, so the indemnity money will be relatively less than if replacement coverage were used.

Viewed in this way the choice of one type of coverage or the other may put you at a disadvantage if you select actual cost coverage. True, if you choose this style when you purchase your policy, you may save a little money on your premium, since it is usually at least 10% less expensive, but you should consider whether it is worth the discount for risking a large loss in the event of a disaster due to the depreciation of your belongings.

You can purchase additional coverage in advance in case a repair or replacement loss turns out to be greater than expected. For example, your home suffers a fire and you realize that to rebuild it as it existed before, construction costs in the area are skyrocketing and will cost you much more than what insurance would compensate you for. If you have extended replacement coverage, it will add up to a percentage of your coverage to the settlement, such as 20% more, so that you do not have to use out-of-pocket funds to complete the rebuild.

How to calculate an insurance indemnity

There are different ways to do it: justified or unjustified.    The implications of such decision will be different in each case. In this article we will focus on unjustified dismissal, more precisely in defining what is severance pay.

Read more  Can you have 2 loans with credit union?

If we transfer it to the labor field, severance pay is a sum of money that an employer must pay to its employees when it decides to terminate the employment relationship in an unjustified manner or without justification.

In this sense, the indemnity is intended to remedy the loss of the job and the wages received thanks to it. By guaranteeing financial compensation, it is expected that the employee will be able to meet his expenses for a certain period of time.

In order to talk about compensation for unjustified dismissal, we must begin by understanding how employment relationships work. As we already saw in another article where we talked about the different types of labor contracts, at the beginning of an employment relationship, the employer and the collaborator agree on the conditions of the same through the contract. There, among other things, the consequences for both parties in the event of non-compliance with these conditions are also determined.

What is a compensation affected payment?
Read more  How can I get a 1000 on my bank account?
Scroll to top