When you leave the company, you take over the device from your employer and become the owner. Depending on the budget with which you chose the device, a different procedure will be followed.
When you leave the company, a settlement will be made based on two components:
Financing of the actual usage period of the device:
Payflip will check, based on the end date of your employment contract, if there is any outstanding balance for the months you have actually used the device. If this is the case, the outstanding balance will be charged at that time.
✅ If you are entitled to a year-end bonus upon leaving, this outstanding balance will be charged to your year-end bonus.
❌ If you are not entitled to a year-end bonus upon leaving, the outstanding balance will be charged to your net holiday pay. If this is not sufficient, the balance will be deducted from your net salary.
Takeover price of the device:
Payflip will calculate the takeover price of the device based on the end date of your employment contract. The takeover price at that time depends on the budget with which you financed the device:
In the case of financing through a bonus budget, the employer will charge a benefit in kind of 20% of the original value of the device on the payslip, which will be subject to taxes and social security contributions.
In the case of financing through a year-end bonus budget, the takeover price is determined based on the book value of the device on the day you leave the company. In this case, the takeover price will be deducted from your net holiday pay. If this is not sufficient, the balance will be deducted from your net salary.