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Redundancy - Form RP50

  • 26-03-2015 3:53pm
    #1
    HcksawJimDuggan
    Registered Users, Registered Users 2 Posts: 394 ✭✭


    If a company has made staff redundant and at the redundancy date the company is unsure as to whether they will be in a position to pay the redundancy until company stock, assets etc. have being sold, should a form RP50 be filled out and provided to the employee?


Comments

  • #2
    TimKelliherFCA
    Registered Users, Registered Users 2 Posts: 2 ✭TimKelliherFCA


    Hi,

    On the date of the termination of employment your employer should pay the redundancy lump sum due to staff and the RP50 completed (can be done online) and signed by both company and employee and submitted.

    If the company has not paid the redundancy lump sum, an employee can apply to the company for it using form RP77. If the company still does not pay it, the employee can apply to the Department of Social Protection for direct payment from the Social Insurance Fund as follows:

    If the company is unable to pay the redundancy lump sum, it should complete and sign the RP50 and submit it with a letter from an accountant or solicitor stating they are unable to pay and accepting liability for 100% of the lump sum owing to the Social Insurance Fund (SIF). Audited accounts may also be required. Then any funds generated from the sale of company assets and stock can be used to repay the SIF. Applying to the Social fund is a slow and difficult process.

    I hope this helps your query.

    Regards,

    Tim


  • #3
    HcksawJimDuggan
    Registered Users, Registered Users 2 Posts: 394 ✭✭HcksawJimDuggan


    Many thanks for the response Tim.

    My understanding was that if the company paid the redundancy, there was no requirement to complete the RP50 as the employee has received their full entitlement.

    The company in question is continuing to trade for 1 further month after redundancies have taken place. During this period, the company will attempt to sell the remaining stock and fixed assets and it is only then that the company will know if they have sufficient funds to pay the redundancy. The company is currently in an overdraft position. Audited accounts will be prepared after the company has ceased trading so no doubt this will further slow down the process of employees claiming their redundancy from the social fund (if necessary).


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