1. If your employer give you 1 month notice, this is already fulfill the regulations unless the notice period stated in your employment contract is different.
2. If you had continous working for the same employer over 2 years, the employer shall give you compansation for long-serving. Normally 2/3 monthly salary multiply the number of years you served. In your case will be (your monthly salary) x 2/3 x 5. In addition, your employer can use their own part of Employer Contribution in MPF to settle such compansation.
If you have anymore query, please contact the Labour Department for advice.