The Private Company Termination Policy serves as a crucial governance document that standardizes the approach to employment termination while ensuring compliance with Singapore's employment laws and regulations. This document becomes necessary when companies need to establish clear, consistent, and compliant procedures for handling various types of employment termination. It includes detailed processes for voluntary resignations, performance-based dismissals, redundancy situations, and retirement cases, while incorporating specific requirements under Singapore's Employment Act, Retirement and Re-employment Act, and related legislation. The policy helps protect both employer and employee interests by ensuring fair treatment, proper documentation, and appropriate financial settlements.
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1. Introduction: Purpose and scope of the policy, and its application within the company
2. Definitions: Key terms used throughout the policy including types of termination, notice period, etc.
3. Types of Termination: Categories of termination (voluntary resignation, dismissal, redundancy, retirement)
4. Notice Period Requirements: Standard notice periods for different employee categories and circumstances
5. Termination Procedures: Step-by-step process for different types of termination
6. Final Settlement: Process and timeline for final payment, benefits, and clearance
1. Gardening Leave: Terms for placing employees on garden leave during notice period - used for companies with sensitive information or competitive concerns
2. Post-Employment Restrictions: Non-compete and confidentiality obligations - used for senior positions or roles with access to sensitive information
3. Retrenchment Benefits: Additional benefits and support for redundancy situations - used for companies with more than 10 employees or specific retrenchment policies
1. Exit Checklist: List of tasks and clearances required before final settlement
2. Handover Template: Standard format for documenting handover of responsibilities
3. Termination Letter Templates: Standard formats for different types of termination notifications
4. Benefits Calculation Guide: Detailed methodology for calculating final settlements
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