This is dealt with by the Redundancy Payments Act 1967 and onwards. Redundancy is meant to come for the loss of security, seniority and other benefits which have built up in employment for an employee whose position has become redundant. There is a statutory payment on making of employees redundant, 60% of which can be recouped by an employer.
There are certain conditions which must be met by an employee to qualify for redundancy and there is a formal for working out the amount of redundancy payable to each employee. Each employees situation is different and specific advice should be obtained on your own circumstances.
In general terms any employee aged 16 or over with 104 weeks continued service is entitled to statutory redundancy. The amount of payment is 2 weeks gross pay per year of service up to a ceiling of €600 per week plus one weeks pay which is also subject to the ceiling of €600.00. The payment is tax free.
If you wish to calculate the amount of redundancy to which you are entitled you should call Nera Information Service low call 1890 808090.