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Calculating notice pay is a matter of simple arithmetic. Divide the annual salary by 52. Multiply the resulting figure by the requisite number of weeks. For example an employee who earns $52,000 per year and is entitled to two weeks' notice pay should receive $2,000.
Pay in lieu of notice. If a notice period such as one month is required for an employer to terminate a contract, a 'payment in lieu of notice' is immediate compensation at an amount equal to that an employee would have earned as salary or wages by working through the whole notice period: for example, one month's salary
According to MOM's guidelines, https://www.mom.gov.sg/employment-practices/salary/monthly-and-daily-salary, salary in lieu of notice is computed based on the actual number of notice days x gross daily rate of pay. Hence, the total number of notice days from 16 Oct to 31 Dec = 55 days x (Gross salary x 12/260).
One way of negotiating an enhanced deal is to see if the employer can pay you in lieu of notice rather than make you work it or be put on garden leave. You should take advice from your solicitor on your particular situation.
A payment in lieu of notice should include all the remuneration and benefits to which the employee would have been entitled under their contract during the notice period. This includes any contractual benefits such as health insurance, a car allowance or contractual bonuses.
It means that an employee can insist on keeping the contract alive where an employer purports to terminate in breach of contract, leaving the employer with no option but to terminate lawfully by giving contractual notice or making a payment in lieu where it has a contractual right to do so.
If you get a payment in lieu of notice it means that your employer pays your salary, and perhaps also benefits, for your notice period, but you do not have to work during that time. Pay in lieu of notice is also known as PILOT for short. Sometimes it's also referred to as wages in lieu of notice.
No. Leave only accrues during an employee's working time. As notice paid in lieu does not count as working time, no leave accrues in relation to the amount paid out. Conversely, leave will continue to accrue during any period of notice actually worked by the employee.

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