ESB CALCULATION
sIR i AM HAVE BEEN IN THIS COMPANY FOR ALMOST FIVE YRS. AND I HAVE DECIDED TO GO ON FINAL EXIT THIS YEAR AND MY MONTHLY SALARY IS 1600 PLUS 300 ALLOWANCE HOW MUCH THE TOTAL OF MY END OF SERVICE BENEFIT PLEASE LET ME KNOW. THANK YOU SIR
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Answers (1)
Abdul Aziz
11 سنةs منذ
this is one example so calculate based on it, or send me message for more details
According to Saudi Arabia labor law, If the company gives final exit or terminates the contract then you are entitled to get half of your monthly salary for each of the first five years and one month salary for following years.
So in your case if your salary is 2000 Riyals, then end of service benefit is calculated as below.
First five years = (5 x 2000)/2 = 5000 SR.
Next 2 years = (2 x 2000) = 4000 SR.
Remaining 5 months you need to calculate like below.
Calculate the benefit by day = 2000 SR / 365 days = 5.47 SR
calculate the days for 5 months = 5 months x 30 days per month = 150 days
Multiply the benefit by day by remaining days = 5.47 SR x 150 days = 820.5 SR
Your Total end of service benefit = 5000 SR + 4000 SR + 820 SR = 9820 SR.
According to Saudi Arabia labor law, If the company gives final exit or terminates the contract then you are entitled to get half of your monthly salary for each of the first five years and one month salary for following years.
So in your case if your salary is 2000 Riyals, then end of service benefit is calculated as below.
First five years = (5 x 2000)/2 = 5000 SR.
Next 2 years = (2 x 2000) = 4000 SR.
Remaining 5 months you need to calculate like below.
Calculate the benefit by day = 2000 SR / 365 days = 5.47 SR
calculate the days for 5 months = 5 months x 30 days per month = 150 days
Multiply the benefit by day by remaining days = 5.47 SR x 150 days = 820.5 SR
Your Total end of service benefit = 5000 SR + 4000 SR + 820 SR = 9820 SR.
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