On termination of employment, an employer shall pay termination payments to the employee which usually include outstanding wages, payment in lieu of notice (if applicable), annual leave pay, end of year payment, long service payment or severance payment (if applicable) and other payments under the employment contract. Except for severance payment, all termination payments shall be paid within 7 days after the date of termination. For severance payment, an employer shall make payment within 2 months from the receipt of a notice claiming for severance payment from the employee.