Dear all
if company is closed then what is the benefit for employees & how to process to for it.
Ex. If 50 employees terminate.which are the dues have to pay by the company to employees to whom the company terminated.
From India, Ahmedabad
4if company is closed then what is the benefit for employees & how to process to for it.
Ex. If 50 employees terminate.which are the dues have to pay by the company to employees to whom the company terminated.
From India, Ahmedabad
Dear Milan
If the company is closed and retrench all the employees, the company has to give all the final benefits to all the employees. The benefits will vary as per the terms and conditions mentioned in the employees Offer of employment letter issued to them at the time of joining and length of service.
From India, Kumbakonam
If the company is closed and retrench all the employees, the company has to give all the final benefits to all the employees. The benefits will vary as per the terms and conditions mentioned in the employees Offer of employment letter issued to them at the time of joining and length of service.
From India, Kumbakonam
Hi
If the Establishment is closed, then follow the orocedures laid down in Industrial Disputes Act I presume most of the people ar workmen under ID Act
1. 15 days wages for every completed year of service as closure compensation 6 months and above to be treatd as one year.
2. One month's notice pay or one month's notice
3 Other dues will include Gratuity, leave encashment and salary due, bonus ofr the year
This is a broad guideline and please refer to ID Act for exact procedure
Sivassankaran T
From India, Chennai
If the Establishment is closed, then follow the orocedures laid down in Industrial Disputes Act I presume most of the people ar workmen under ID Act
1. 15 days wages for every completed year of service as closure compensation 6 months and above to be treatd as one year.
2. One month's notice pay or one month's notice
3 Other dues will include Gratuity, leave encashment and salary due, bonus ofr the year
This is a broad guideline and please refer to ID Act for exact procedure
Sivassankaran T
From India, Chennai
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