Executive Rule No. 34 outlines the tax-allowable provisions for end-of-service benefits payable by Incorporated Bodies. It specifies distinct calculation methods for monthly salaried employees and those paid on a daily, weekly, or hourly basis, with caps on the total benefit. The rule details entitlement conditions, stipulating full benefits upon employer-led termination or contract expiry. For voluntary resignations, entitlement is phased, ranging from zero to full benefits based on service duration. The calculation is based on the final salary, including periodic allowances but excluding expense reimbursements.
Executive Rule No. 34 Concerning Provision for End of Service's Benefits