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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Terms found Action for the restoration of ownership Amended dismissal Annuity Appeal against a decision Asset Assignment of Claims (Cession) Austrian Public Employment Service (AMS) Banking secrecy Bankruptcy proceedings BaSAG Book value / carrying amount Branch Brokerage Agreement Building Law Business Business entity Call for Tenders Capitalisation Casual Employment Certification Change in Operations Collective Bargaining Agreement Company Agreement Company Pension Comparison of business assets Compensation Compliance Compulsory enforcement Consumer Protection Act Corporate Reorganisation Act (URG) Corporation Covenants Debt restructuring Debtor Declaration of consent Decree Deferral Discount Dividend Double taxation Double-entry bookkeeping Easement Employee Stock Ownership Equity Equity loan Factoring Fees Act Financial plan Foreclosure sale Foreign-currency loan General partnership General Protection Against Dismissal Global assignment GmbH Group taxation Guarantee Guarantee credit Hidden reserves Hire Purchase Insolvency Insolvency Act Insolvency administrator Insolvency estate Insolvency register Inspection of the Land Register Inventory Land Register Letter of comfort Lien Limited partnership Liquidation Loan Loss Carryforward Maternity leave Merger Natural person Nominal value Option Outsourcing Part-time work Partnership Personal insolvency Pledge principle Preliminary decision on an appeal Progression Prohibition of alienation and encumbrance Prohibition on the repayment of deposits Property income tax Provision Proxy Public Limited Company Reallast Repayment Restriction on Transfer Restructuring proceedings Retention of title Revision Right of first refusal Right of retention Rights in rem Self-consumption Severance Pay Severance Pay new Severance Pay old Shareholder loans Short-time work Silent partnership Skimming procedure Social Plan Sole Proprietorship Standard value Stock Subscription right Superstruction Supervisory Board Tenancy agreement Works Council

Severance Pay

An employee is entitled to severance pay in the event of termination without proper notice or in violation of the notice period, in the event of unjustified dismissal, or in the event of justified early resignation. The amount of severance pay is based on the contractual entitlement to compensation for the period that would have elapsed until the termination of the employment relationship either by the expiration of the fixed contract term or by proper termination.

Severance pay constitutes a claim for damages, not a claim for specific performance. The employee is to be placed in the same financial position as he or she would have been had the employment relationship been terminated in accordance with the law. The employee may also assert a claim for damages that may exceed the amount of severance pay. Claims arising from the termination of the employment relationship are subject to a statute of limitations of 6 months from the date on which the employment relationship was unlawfully terminated. The claim must be asserted in court.

In principle, however, the employee must have deducted from his or her severance pay any savings resulting from the failure to perform work, any income earned from other employment, or any income that the employee intentionally failed to earn. Such deductions do not apply during the first 3 months following the termination of the employment relationship.

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