One of the major reasons why it is important for you to understand your severance pay rights is because most employers tend to take their employees for a ride by not providing them with the rightful severance pay while laying them off. If you are not too sure about what severance pay you should rightfully claim then it is important for you to check the severance pay calculator so that you can calculate how much money you are to be given and whether or not the employer is paying you the right amount of money or not.
Although most people have the details of the severance pay written in their offer letter and it is made clear to them at the time of joining itself, sometimes employers try to stay discrete about this piece because they choose for it not to be provided to their employees and they do not want to give them a lot of money when they are leaving or when they are laid off. Either way it is important for you to try and get these terms as clear as possible when you are joining the organization itself so that there are no problems created while you are leaving.
However if you haven’t manage to get these terms clear you can always consider legal help and get your rightful pay specially if you were laid off. Any employee who was laid off falls under the severance pay act and should be able to receive a certain amount of money that will help them to get back on their feet until they find another job. While this rule is applicable for people who are laid off, in case you left the organization of your own will, whether or not you are able to receive severance pay is in the hands of the employer.