Notice Period: What is it?
The time frame between receiving the letter of termination and the conclusion of the final working day is known as the notice period. An employee must be provided this time frame by his employer prior to the conclusion of his employment. It also describes the time frame that passes between an employee’s resignation date and their last day of employment with the organization. The amount of time an employee must wait between making the decision to leave and actually ceasing to work is known as the notice period.
Notice Period Types
Statutory notice, contractual notice, probationary notice, notice period for resignation, redundancy notice, contract notice, payment in lieu of notice period, termination without cause or serious misconduct, and probationary notice are the eight different forms of notice periods.
1. The mandatory notice period
A notice period must be given by the employer when ending an employee’s employment contract. Depending on how long the person has worked for the company, the notice period may be one week for a year, two weeks for two years, and so forth.
2. Notice period under a contract
This is the amount of notice specified in the employment contract, either orally or in writing. It cannot be shortened and is longer than a statutory notice time. Depending on the terms of the contract, the employer and employee may be required to provide varying notice periods.
3. Notice of probation
Depending on the employee’s rank, probationary notice periods might be anything from one day to three months. They are typically shorter. There are two exceptions, though: employment may be terminated by paying for the entire notice period prior to the notice period’s expiration. Additionally, if a person is joining a rival, they may complete their notice period without working at their current job. Additionally, they receive payment for the entire notice time.
4. Noticeless dismissal (or) Serious misconduct and notice
When an employee is fired due to egregious wrongdoing or behavior, they are not compensated or permitted to continue working. It can be a violation of contract if the behavior is concerning or severe enough.
5. In lieu of notification payment (PILON)
In this kind of notice term, the employer informs the worker that they are not required to work, yet they are paid for the entire notice period. It might cover commissions, holiday entitlement payments, and benefits loss compensation. It is usually used as compensation for contract violations or for abruptly terminating an employment.
6. Long-term agreement
The last day of employment is specified in a fixed-term contract. There is no notice period in this situation. The proper statutory notice is given if the employer chooses to end the employment contract before the specified deadline.
7. Notice of redundancy
An employee must serve a notice period prior to the termination of their employment if they are fired because their position is no longer needed or exists. The length of the notice period is determined by the length of time the employee has worked for example, one week for a year, twelve weeks for a year, and so forth.
8. Notification of withdrawal
Unless both parties agree to remove it, notice given by an employer or employee cannot be taken back.
9. Resignation notice period
Employees are required to give at least one week’s notice before leaving their jobs. The notice period may be extended by up to one month, depending on the terms of the contract. The seniority level of the employee inside the organization may also have an impact.
