HOW TO GUIDE KSA: How to Compute End of Service Benefits Jan 30, 2014 When does an overseas Filipino worker (OFW) who works in the Kingdom of Saudi Arabia (KSA) qualifies to receive a retirement pay from his employer? Are you sure you have received the right amount? Do you know how it was computed? Here is a discussion of our great OFWs in OFWGuide Forum. May this topic be of help to OFWs wondering how they can get their retirement pay. A forumer named charisma asked how an OFW who worked for some 30 years in Saudi would compute his retirement pay. Forumer dark_hollywood answered add your one month salary to benefits and vacation pay equals end of service benefits (1 mo. salary + benefits + vacation pay = SR 0000.00). Here’s how you can get your: a. End of Service Benefits: One month salary divided by thirty days multiply by 1.25 (30 days/24 months = 1.25) multiply by 24 months (SR0000/30 X 1.25 X 24 = SR 0000.00) b. Vacation pay: Basic salary divided by thirty days multiply by 1.75 (21 days / 12 months = 1.75) multiply by 24 months. (SR0000/30 X 1.75 X 24 = SR 0000.00) According to dark_hollywood, the computation above is for two (2) years of service only which is equivalent to 24 months. In vacation pay, the new Saudi Labor Law stated that a worker is entitled of 21 days paid vacation annually. Aside from the amount to be paid by the employer, the employer shall bear the final exit visa and the fees and free Air ticket back to origin of the worker. Is this topic helpful to you? We invite you to visit the OFWGuide Forum to know more about the computation of your end of service. If you want to clarify things, you may register to the forum to post your question and join the discussion at END OF SERVICE BENEFITS - SAUDI ARABIA WORKERS. Read more: ofwguide/article_item-1415/KSA--How-to-Compute-End-of-Service-Benefits.html#ixzz2rtGd5iXD
Posted on: Thu, 30 Jan 2014 14:09:59 +0000
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