Date: 14th June 2026
To: Fast Value Global (BD) Ltd.
Subject: Opinion on Resignation Compensation Payable to Mr. Imtiaz Hossain under the Bangladesh Labour Act, 2006.
Dear Sir/Madam,
At your request, we have reviewed the employment information and resignation compensation calculation of Mr. Imtiaz Hossain, Country General Manager, in light of the provisions of the Bangladesh Labour Act, 2006 (as amended up to 2025).
Based on the documents and information provided to us, our opinion is as follows:
1. Employee Information
Particulars
Details
Employee Name
Mr. Imtiaz Hossain
Joining Date
16 November 2014
Resignation Date
30 June 2026
Length of Service
11.79 Years
Gross Monthly Salary
BDT 365,533
Basic Monthly Salary (60% of Basic Salary)
BDT 219,320
Earned Leave Balance (Shared by Company)
36 Days
2. Applicable Legal Provisions
Section 27 of the Bangladesh Labour Act, 2006
Section 27 provides that where a permanent worker resigns after completing ten (10) years or more of continuous service, the employer shall pay compensation equivalent to 30 (thirty) days’ wages for each completed year of service, or gratuity, if any, whichever is higher.
Section 14(1) of the Bangladesh Labour Act, 2006
For the purpose of calculating benefits based on years of service, a fraction of a year exceeding six (6) months (240 days) shall be deemed to be a complete year. As Mr. Imtiaz Hossain rendered 11.79 years of continuous service, the fractional period exceeds the statutory threshold and therefore shall be treated as a full year. Accordingly, his service period is considered 12 completed years for compensation purposes.
3. Compensation Calculation
A. Compensation under Section 27
Basic Monthly Salary: BDT 219,320
Eligible Service Period: 12 Years
Compensation Rate: 30 days’ wages for each completed year
Compensation Payable:
BDT 219,320 × 12 years = BDT 2,631,838.00
B. Earned Leave Encashment
Earned Leave Balance: 36 Days
Daily Wage (Gross Salary ÷ 30): BDT 12,184.43
Leave Encashment:
36 × BDT 12,184.43 = BDT 438,640.00
C. Total Payable Amount
Description
Amount (BDT)
Compensation under Section 27
2,631,838.00
Earned Leave Encashment
438,640.00
Total Payable
3,070,478.00
4. Provident Fund and Gratuity
We understand that Fast Value Global (BD) Ltd. does not maintain any Provident Fund or Gratuity Fund scheme. Therefore, no additional payment is payable under any provident fund or gratuity arrangement. The employee shall only be entitled to the statutory benefits calculated above, together with any unpaid salary or other contractual dues, if applicable.
5. Opinion
Based on our review of the facts presented and the relevant provisions of the Bangladesh Labour Act, 2006 (as amended), it is our opinion that:
Mr. Imtiaz Hossain's service period of 11.79 years should be treated as 12 completed years pursuant to Section 14(1) of the Act.
He is entitled to resignation compensation under Section 27 at the rate of 30 days' basic wages for each completed year of service.
He is entitled to encashment of his accumulated 36 days of earned leave.
The total statutory amount payable is BDT 3,070,478.00, subject to deduction of applicable taxes, if any, and verification of payroll records.
Sincerely,
____________
Fumihiro Abe
Director
Tokyo Consulting Firm Limited (TCF)
Attached: Annexure A (Calculation for benefit)
Disclaimer:This opinion is based solely on the information and documents provided by Fast Value Global (BD) Ltd. and our interpretation of the Bangladesh Labour Act, 2006 (as amended). The calculations and conclusions are subject to verification of the underlying records and may be affected by any change in facts, applicable laws, regulations, or judicial interpretations. This opinion is prepared for internal guidance purposes only and should not be considered a binding legal determination.
Annexure A: Calculation for benefit
Calculation for benefit
Name
Position & Department
Joining Date
Resignation Date
Duration of Service
(in Years)
Eligible to ReceiveBenefit (years) as per Section 27
Current Wages
Earned Leave Balance
Earned Leave Encashment
Benefit as per Section 27
Total Amount Payable
Gross
Basic
Mr. Imtiaz Hossain
Country General Manager; Bangladesh & Global Business Development- RFID
16-Nov-14
30-Jun-26
a
b
c
d
e=d*(b/30)
f=b*c
g=e+f
11.79
12.00
365,533
219,320
36
438,640
2,631,838
3,070,478