2015-12-07
The Arrear Wage Payment Fund of the Amended Labor Standards Act of February 2015
The Arrear Wage Payment Fund has been amended and enlarged its application to the payment of arrear wages, arrear pension fund under old mechanism and arrear severance pay in the amended Labor Standards Act of February 2015 (“Amendment”).
Recently, the Ministry of Labor announced the relevant rule/regulation of the Amendment, which enlarges the Amendment to the companies who applied for liquidation or bankruptcy before the Amendment takes effective (i.e., February 6, 2015) but the procedure of liquidation or bankruptcy has not been completed after the Amendment.
In light of the above, the employees of the Chi Mei Lighting Technology Corp. (“CMLTC”) who were owed by CMLTC in related to their arrear severance pay are eligible to apply for the repayment from the Arrear Wage Payment Fund. Likewise, the employees of the First International Telecom Corp. (“FITC”, who was declared to be bankrupt in 2014) to whom the FITC owed their arrear severance pay are eligible to apply for the repayment from the Arrear Wage Payment Fund.
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