Termination of Employment (Redundancy)

The present practice memo describes the legal and practical considerations with regards to termination of employment for redundancy under Cyprus law. It includes, inter alia, the legal requirements for an employee to be deemed as redundant, when an employee is entitled to redundancy payment, when a redundant employee loses his right to redundancy payment, calculation of the period of continuous employment, calculation of the redundancy payment amount payable to an employee, the process of payment from the Redundancy Fund, notices, compensation and other relevant matters. It goes further to include an indicative step plan of the aforementioned processes along with a description of the requisite documents.

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