payment in lieu of notice

payment in lieu of notice
payment in lieu of notice (PILON)
A contractual right to pay an employee a lump sum rather than require them to work out their statutory or contractual notice period. If there is no PILON clause in a contract of employment then an employer who pays an employee a lump sum salary payment instead of requiring them to work their period of notice will technically be in breach of contract but the employee will usually have suffered no loss.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • Payment protection insurance — Payment protection insurance, (also known as PPI, credit protection insurance, loan repayment insurance, not to be confused with income protection or credit card cover) is an insurance product that is often designed to cover a debt that is… …   Wikipedia

  • notice — no·tice 1 n 1 a: a notification or communication of a fact, claim, demand, or proceeding see also process, service ◇ The requirements of when, how, and what notice must be given to a person are often prescribed by a statute, rule, or contract. b …   Law dictionary

  • PILON — payment in lieu of notice (PILON) A contractual right to pay an employee a lump sum rather than require them to work out their statutory or contractual notice period. If there is no PILON clause in a contract of employment then an employer who… …   Law dictionary

  • contract of employment — A contract of service or apprenticeship, whether express or implied and, if express, whether oral or in writing. Whether or not an individual is working under a contract of employment will determine whether they are entitled to certain statutory… …   Law dictionary

  • discretion — Freedom given to the floor broker by an investor to use his judgment regarding the execution of an order. Discretion can be limited, as in the case of a limit order that gives the floor broker some distance from the stated limit price to use his… …   Financial and business terms

  • LABOR — Jewish Labor Organizations IN THE PRE STATE PERIOD Since the last decades of the 19th century, a number of sporadic labor associations have arisen in agriculture and in the printing, clothing, and building trades, as well as groups limited to a… …   Encyclopedia of Judaism

  • China Employment Law — The China Employment Law 2008 is a statute which regulates the contract of employment among workers in China. It was introduced on 1 January 2008.Text from the Actcquote|Effective January 1, 2008 The following is an translated copy of the… …   Wikipedia

  • United Kingdom — a kingdom in NW Europe, consisting of Great Britain and Northern Ireland: formerly comprising Great Britain and Ireland 1801 1922. 58,610,182; 94,242 sq. mi. (244,100 sq. km). Cap.: London. Abbr.: U.K. Official name, United Kingdom of Great… …   Universalium

  • Employment in Hong Kong — This page gives detailed information on the employment situation in Hong Kong.OverviewHong Kong has an area of 1,103 square kilometres and a population of about 6.99 million as of 2006. Despite its small size, Hong Kong was ranked the 11th… …   Wikipedia

  • Canada Labour Code — The Canada Labour Code is an Act of Parliament of the Canadian government to consolidate certain statutes respecting labour. The objective of the code is to facilitate production by controlling strikes lockouts, occupational safety and health,… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”