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Hello, so i have a simple question, let's say my salary was 2M for 5 years and the 6th year my salary became 4M, do i get my end of service compensation as if am paid 4M for all years or what?
Yes, that's how it is as far as I remember. They take the last years salary into consideration
No, I think it's 2M up to the first 5 years then 4M after the 6th and they add it up.
If you're thinking about withdrawing it, you'll be deducted panelties unless you have been working for more than 20 years.
Yes, that's how it is as far as I remember. They take the last years salary into consideration
that is what i read too
No, I think it's 2M up to the first 5 years then 4M after the 6th and they add it up.
Yea i know that am not willing to withdraw right now, i wanna work out the math with my employer
Last edited by DNA (March 5 2021)
Yes, you are paid the amount that is shown in the last 2 months filed in social security system for all the previous years.
Yes, you are paid the amount that is shown in the last 2 months filed in social security system for all the previous years.
I see, thank you
Keep in mind that if you requested to withdraw your eos indemnity and you have less than 20 years of duty you won’t get the full amount
Percentage paid depends on your years of duty
Keep in mind that if you requested to withdraw your eos indemnity and you have less than 20 years of duty you won’t get the full amount
Percentage paid depends on your years of duty
Indeed.
× 50 % up to five years
× 65% between 5 & 10 years
× 75 % between 10 & 15 years
× 85 % between 50 & 20 years
Full from 20 years
End of service
= (Last Basic + last year related bonus + last year related overtime - last year transportation) × number of years in the service × % (above)
If salary is paid on 15 months bases for example
Basic = ((Salary - Transportation))×15 /12
Last edited by Tech Guru (March 6 2021)
and if someone withdraws before 20years the rest of the money is gone?
No, you just get it at a percentage as stated above. To get the entire one month salary you need to have worked there for 20 years.
The only benefit of SS in Lebanon is the medical care for your and your family. Also if you're married with kids you get that as upfront cash from your employer instead of from the SS office.
that cleared things up thanks everone
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