Explained
It is often part of the wage the end-of-service award is calculated on, along with other fixed allowances, depending on the contract and regulation.
Related terms
- Payroll runA payroll run is the monthly statement of staff pay: basic, allowances, additions, deductions and net pay for each employee.
- End-of-service awardAn end-of-service award is paid to an employee when their contract ends, calculated from the last wage, length of service and reason for leaving.