End of Service Benefit

I have been working in a company since Jan. 26, 1999. Now I am looking to resign with one month’s prior notice. My company is saying that I will get one third of my salary for each of the first years of my service, and two thirds of it after my service exceeds five years. Is this correct?

Yes, that is correct. You seem to be working on an unspecified (open-ended) contract. Your monthly salary is your basic wage. Your actual wage is your monthly salary plus all other allowances, such as housing, transportation, monthly average, etc. Your End-of-Service benefit (ESB) is calculated on the basis of your so-called Last Monthly Actual Wage, or LMAW. Your ESB is calculated on the basis of your LMAW. If you work for less than two years you get no ESB. Beyond that, for each of the first five years of service you get one third of your LMAW. For each of the next five years of service you get two thirds of your LMAW. If you work beyond that, your ESB becomes is a full LMAW for each subsequent year. You also get ESB for any portion of an incomplete year. For your car the usage is shared: you should get SR500 a month for that.