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Dec22

Final wages payout upon termination

Termination
Employee Warning Notice
Employee Final Warning Notice
Employee Resignation Form
Exit Interview Questionnaire
Separation Checklist

In the case of a layoff when do we have to have the final wages for the employee?

Layoffs are covered by the same payroll laws that affect any other type of termination — and they vary widely by state. A laid off employee is a terminated employee. If your state requires that you pay terminated employees within 24 hours, or within 72 hours, then you must abide by that law. In other states, payment is required within 7 days or on the next regularly scheduled payday. Again, you must abide by the law of your state. The wage payent laws are the same for an employee who is laid off or one who is fired for cause. Normally this check must include any vacation payout.

Sometimes under a severance agreement, the employee continues to collect his or her full salary for a certain period of time, such as three months. In that case, the amount can be paid over the three months, as if the employee were still employed. However, at other times a lump sum settlement is paid.

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This entry was posted on Tuesday, December 22nd, 2009 at 10:33 am and is filed under
Termination.
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