I wasn't sure whether to put this in this topic or money related but hopefully someone with legal/HR/finance knowledge can help.
I am currently furloughed on £2,500 per month (before tax etc deductions).
This represents approximately 62% of my monthly salary.
I am aware that as of August my employer will have to contribute national insurance and pension (I think) - however, they are not in a position to do this. I work in sales and my being furloughed, and the industry we work in, means that there is very little incoming revenue.
My question is - how would this then work? Is this non-negotiable for the business (and therefore it's a case of either they contribute or my role is made redundant) or would the government still contribute the 70% but it wouldn't get topped up to the 80%? And how does this work in terms of the cap - obviously at the moment I don't get 80% as it's above the capped amount.
And then I suppose moving on from that - same question for September, October...
I'm just trying to work out my financial situation as I'm not even sure that they will be able to bring me back in November, so I'm considering staying employed by them but taking a sabbatical to return in January/February, but need to be sure that the money leading up to that is sufficient for me to be able to go for a couple of months without pay...
Please let me know if this needs any more clarity - I know what I mean, but I'm not sure how clear it is to others!
Thanks
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Covid
Furlough pay August onwards
8 replies
Furlough123 · 10/06/2020 15:27
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