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Rocky's Aqua End of the Line
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In the DR, there is a government extortion plan set up so that if anyone is released without cause, they are owed a certain amount of money to cut them loose. This frequently works against business owners who were not as nice as Rocky or Frank
aranoid:, because many employees will do a good job until they are entitled to a severance payment. Then they start to screw up, the owner fires them, they go to the government office and serve you with papers to pay them that severance, etc. It is very hard for the business owner to prove the employee was wrong and that they were fired with cause, so the employer ends up paying. I suspect, but could be wrong, Rocky would have to pay this money anyway by law to release the employees because of what I described above unless this was a 10% payment above and beyond the normal severance.
Whatever Conchman says here about labor laws in general, in the DR, would be worthwhile to listen to. I can't think of anyone here who has employed as many souls as his company has over the years. The good, the bad and the ugly. I'd say the same about taxi drivers and their union(s).
It is agreed to a certain extent that the north strand is seeing dwindling numbers in new vacationers.
It is agreed to a certain extent that global economies are having a negative impact on the north strand.
It is agreed to a certain extent that this location is past it's proper prime, or so called heyday.
It is agreed to a certain extent that most successful operations have a limited window to excel and maximize in earnings.
With this is mind, what if the existing owner enters into a money up front agreement with the RD government. Say a lease of 10-15-20 years....paid in full up front by the government, who then in turn convert, establish, and open a DGM satellite office (with all the respective trimmings) in the location to cater to those north strand foreigners who do not wish to travel across the country to get their personal affairs in orders?
In addition to providing convenient operations for the much valued north shore investors, local businesses will see an increase in profits from those utilizing the site, such as those seeking dining and possible lodging arrangements.....and the owner gets his long-term money up front. Without monies up front, no deal.
It is agreed to a certain extent that global economies are having a negative impact on the north strand.
It is agreed to a certain extent that this location is past it's proper prime, or so called heyday.
It is agreed to a certain extent that most successful operations have a limited window to excel and maximize in earnings.
With this is mind, what if the existing owner enters into a money up front agreement with the RD government. Say a lease of 10-15-20 years....paid in full up front by the government, who then in turn convert, establish, and open a DGM satellite office (with all the respective trimmings) in the location to cater to those north strand foreigners who do not wish to travel across the country to get their personal affairs in orders?
In addition to providing convenient operations for the much valued north shore investors, local businesses will see an increase in profits from those utilizing the site, such as those seeking dining and possible lodging arrangements.....and the owner gets his long-term money up front. Without monies up front, no deal.
In the DR, there is a government extortion plan set up so that if anyone is released without cause, they are owed a certain amount of money to cut them loose. This frequently works against business owners who were not as nice as Rocky or Frank
I suspect, but could be wrong, Rocky would have to pay this money anyway by law to release the employees because of what I described above unless this was a 10% payment above and beyond the normal severance.
I am very familiar with Severance Pay laws in the Dominican Republic, however, I have never heard of a "10% payment above and beyond the normal severance." Please enlighten me, is this something people are doing?
I think he was confusing the payment of the 10% withheld on sales with the payment of prestaciones.
The place has been closed, so how could there be payments based upon sales?
Sounds more like "liquidation" or 10% above and beyond that in some way.
Rocky paid everyone their severance pay. It was my understanding, however i might be wrong, that the amount of severance that everyone is owed is to be 10% of their yearly income. Is this not correct? I'm not even sure myself.
It has always been my understanding that it's 10% of whatever they make in 1-year.
This thread reminds me of a saying that expats used all the time in Thailand: "What's the quickest way to have a million dollars? Buy a 2 million dollar bar"
No way you are right. It goes by how long the person has been employed. The more years the more he gets. And it is a lot more than 10% of one year's pay if the employee has been there for years. A lot more.............
I forget the formula... based on how many years of employment...
an amount for each year... not 50% , I din't think
the Labor Dept has the formula
I got once... never again... annually I pay
Look at it as the employer's liability.... and make it go away
an amount for each year... not 50% , I din't think
the Labor Dept has the formula
I got once... never again... annually I pay
Look at it as the employer's liability.... and make it go away
It is my understanding that it is 10% of one's annual income. This is how it worked at O'Shay's. We had people who had been there for 15yrs...so we owed them 10% x 15yrs= 150%. If you worked for us for 10-years, then we owed you exactly one year of your income: 10% x 10yrs =100%. And if you only worked 1-year, then you got exactly 10% of whatever you made in 1-full year.
Say, you worked exactly 1-full year and made $100,000 pesos, then we owed you exactly %10 ($10,000).
This is the formula i remember.
Then you will agree with me for sure that this is not correct. The more years you work the more you get. I am not sure of the percentages, but you cannot pay everyone 10% of what they made in one year.
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Like many things Dominican, there are usually several different interpretations......even in the law. That having been said, does not the labor code specify so many days pay per year x length of service for liquidacion?
I thought at one time it was 23 days pay per year. There was even a government web portal to do the calculations.....perhaps it still exists.
Maybe this is it;
http://calculo.mt.gob.do/#
Respectfully,
Playacaribe2
That could be it. But you cannot just pay everyone 10% of what they make in a year and walk away. You will be walking back to a courthouse real soon if you try that.
Sky, I have not altered what i have said from the beginning. I reiterate, everyone gets paid 10% of their income. Of course, it goes without saying, this is for every year that they work for you.
It's called a 10% severance pay, because for every year that they work for you, you are supposed to set aside 10% of their earnings. The Severance pay begins after 90-days of work.
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