Thank you Sir! Although I would also like to know the various ways in which a retrenchment plan affects the retained employees? How does their compensation get affected?
From India, Pune
From India, Pune
Dear Sir,
My company has decided to wind up its business and operations and proceeded further for closure. now here we are only 05 employee in company. out of this 05 employee, three have completed more than 05 yrs service in the company.
hence will these all 03 employee shall be entitled for gratuity plus retrenchment compensation?
02 employees have been given notice from January 2014 till 30 June 2014. complete 05 months notice.... even these 02 employees again after 05 months shall be entitled for retrenchment compensation?
please advice? also 03 employees earn more than lakh rupees per month and have been provided with adequate notice period up to 05 months, still they are eligible for retrenchment compensation? please advice
Many Thanks,
NK Khan
From India, Mumbai
My company has decided to wind up its business and operations and proceeded further for closure. now here we are only 05 employee in company. out of this 05 employee, three have completed more than 05 yrs service in the company.
hence will these all 03 employee shall be entitled for gratuity plus retrenchment compensation?
02 employees have been given notice from January 2014 till 30 June 2014. complete 05 months notice.... even these 02 employees again after 05 months shall be entitled for retrenchment compensation?
please advice? also 03 employees earn more than lakh rupees per month and have been provided with adequate notice period up to 05 months, still they are eligible for retrenchment compensation? please advice
Many Thanks,
NK Khan
From India, Mumbai
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Gratuity Benefits-pOINTS TO BE NOTED.docx