I have been working with a Company "Vaco Binary Semantic LLC" since April, and the company has now decided to shut down its process, leading to the whole team being let go.
DOJ - April 2, 2024
Probation Ends - August 1, 2024 (as per norms, the notice period is 1 month in case it happens during the probation period.) So, they have managed to process the relieving procedure within the same period in my case particularly.
LWD - August 21
Now my query is, as per rules/law, how much compensation is legitimate, and for what period should the salary be provided in this situation?
From India, New Delhi
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DOJ - April 2, 2024
Probation Ends - August 1, 2024 (as per norms, the notice period is 1 month in case it happens during the probation period.) So, they have managed to process the relieving procedure within the same period in my case particularly.
LWD - August 21
Now my query is, as per rules/law, how much compensation is legitimate, and for what period should the salary be provided in this situation?
From India, New Delhi
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As you have not completed minimum period of 240 days, you will be governed as per the employment contract of 1 month notice. No additional compensation can be expected
From India, Bangalore
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726From India, Bangalore
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As per the rules in the captioned subject, the employee is not eligible for compensation for such retrenchment because they have not completed the probation period and do not have the minimum period of 240 days of working prior to retrenchment. Therefore, your employer may provide the one-month notice period.
From India, Mumbai
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From India, Mumbai
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Published_draft _rules_on Employees_ compensation 3.6.2020.pdf
Compensation Benchmarking Survey.doc