QR resignation vs Untaken leave
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Join Date: Jun 2006
Location: Dubai
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QR resignation vs Untaken leave
I am currently working on my exit plan for next year and trying to figure out how not to leave any money on the table. So by May/2019 my bond will be over, more than 5 years in the company (eligible for 100% ISP) and the only thing I can't figure out is what happens to the untaken leave. Considering I'm leaving the company on May I should be entitled to 42 day leave for the year of 2019/2020, will they pay me that? Force me to take them before quitting? Or just loose it all? I do understand that a 3 moths notice is required, so in order to leave the country in May I should submit it in February, just not sure how to make the most of it regarding the leave balance I'll be entitled. Anyone have experience with that?
Thank you.
Thank you.
Join Date: Aug 2002
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I think you will find if you leave in May you are only entitled to 0.5-1.5 weeks of leave depending when your last working day is. I have a feeling if you don’t take that then you just lose it.
Join Date: Nov 2000
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Leave will be allocated pro-rata, in other words you are not entitled to 42 days if you exit the company in May. There is some arrangements with the Banks to make, worth talking to HR about this as we hear tales of accounts being frozen after resignation, etc etc. You need at least 2/3 days for the final exit procedures so trying to micro manage the exit to coincide with 5 years and the bond is not a good strategy. Email some recent leavers if you have contacts for the heads-up..if you think joining was a challenging try leaving the hotel california!
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Thank you gentlemen, I guess there will be no untaken leave if I send my notice in February to exit the country in May. Got a few friends leaving next moth and will make sure to watch and learn with them.
Regards.
Regards.
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3 weeks for every year, I believe for the first 5 Year’s then it increases although not too sure to what. The ISP is performing well and looks like it will return more than EOSB.
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Could be a bit out of date:
A No.
- - If you have less than one (1) year of continuous employment, then you will only receive the accumulated savings in your own ISP account.
- - If you have more than one (1) year but less than five (5) years of continuous employment, then the greater of: (i) seventy five percent (75%) of the value of the Company Funded Account, or (ii) the value of the EOSB that you would otherwise have been entitled to have you not joined the ISP, will be paid to you.
- - If you have more than five (5) years of continuous employment, then the greater of: (i) one hundred percent (100%) of the value of the Company Funded Account, or (ii) the value of the EOSB that you would otherwise have been entitled to have you not joined the ISP, will be paid to you.
A No.
