If my employer continues to pay me after a lay off do I need to return money?

Question

I live in colorado, I had direct deposit and my company contuned to make bi weekly payments into my account. I didn't turn in timesheets. My bosses were suppose to fill out paywork to term me. Is the money mine or the company's?

Answer 1

Did you earn it? There is a word for taking something that is not yours.

Your bosses made a mistake, don't compound it by keeping the money.

Legally and morally, you must not keep it,

I think this comes under the Theft and Fraud laws.

Answer 2

It might be a lag or some kind of severance. My company sent me home in November but the paperwork wasn't completed till April, so I just kind of sat at home waiting for the official end-date forms to arrive, collecting a paycheck. Then I also got a severance check of all the sick/vacation time that was unused.

So call them up and ask them what the official end date was, what the pay period looked like, and see if that explains the money. You legally have to tell them about the direct deposit thing. Make sure you talk to HR and not your old supervisor/manager.

Answer 3

sorry but the money belongs to the company. don't spend it .as soon as they realize the mistake they will want the money returned to them. it could be months before they contact you. when their fiscal year ends the accountants will find the error. let their mistake make you a little profit invest it somewhere safe and earn a little interest from it.

Answer 4

Were your paychecks two weeks behind? Was this actually monies owed to you? Is this a severance pay? If it is a mistake on their part, always be honest. But first find out what this money is covering from when you left.

Answer 5

Id contact them and ask why are their deposits still being made to your account. Best to do it now than when they finally fix their glitch and come after you for that money.

Answer 6

i'd keep it. i had a company give me double paychecks for three weeks and they never took it back. but leave it in your account for a few weeks just in case they decide to. i have had a company debit my account before because they overpayed me. however if it continues after a few weeks, i'd say something, you don't want them to take a big debit out of your account when they realize the problem. hopefully it will stop after a few weeks and nobody will notice. good luck.

Answer 7

It's the companies. What was their response when you notified them after the first post-layoff deposit?

Answer 8

It isn't your fault they are giving you free money, but then of course they could come after you and ask for what's theirs...even thought it was a "mistake". Call them before you go out for a shopping spree.

Answer 9

YOU NEED TO BE ON TOP OF THIS...AS SOON AS YOU WERE AWARE THAT MONEY FROM YOUR X-EMPLOYER WAS IN YOUR ACCOUNT, YOU ARE RESPONSIBLE TO ASK QUESTIONS....THIS COULD BE FOR TIME OWED, DEPENDING ON YOUR PAY PERIOD END DATE OR PAY OFF ON VACATION OR SICK DAYS OR SEVERENCE.....IF YOU IGNORE THIS AND JUST CONTINUE TO GET AUTOMATIC DEPOSITS, YOU COULD BE CREATING A PROBLEM FOR YOURSELF....ALSO, IF THIS IS A LAY OFF, YOU COULD BE ENTITLED TO UNEMPLOYMENT COMPENSATION...BUT NOT IF YOUR EMPLOYER IS PAYING YOU IN ERROR...CONTACT HUMAN RESOURCES AND KEEP TRACK OF YOUR FINANCES....KNOW ABOUT YOUR PAY AND YOUR PAY DATES AND IF YOU GET SICK LEAVE OR VACATION LEAVE AND OR SEVERENCE PAY BEFORE YOU START EMPLOYMENT....GOOD LUCK

Answer 10

You should notify the company. Otherwise you will get some bad karma.