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Employment or Job Termination Package Mississippi Form

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Employment or Job Termination Package Mississippi Form

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termination pay versus severance pay what is the difference when your employment comes to an end whether as a result of being fired terminated or laid off employees will typically be offered a payout from their now former employer the terms termination pay and severance pay are typically bandied about being distinct legal terms that can create considerable confusion without differentiating between these two payments what each represents and how they coexist it is important to understand the differences between termination pay and severance pay such that as a fired employee you may properly understand what payments you are receiving your obligations in relation to those payments and where there might be an underpayment or non-payment by your former employer One to begin termination pay is a statutory payment that is legislated by the applicable EMP employment standards legislation while severance pay emanates from the common law being the creation of the courts and as such is subject to

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