Dear Sir,
Currently I am working with a MNC since December 2006.My service was permanent in April 2008. Now company is going to retrench me as well as other employees. Will you please tell me what kind of compensation benefit we can claim from the company?
I along with my sixteen colleagues are waiting for your response.
Thank you.
With Best Regars,
SS
From India, Delhi
Currently I am working with a MNC since December 2006.My service was permanent in April 2008. Now company is going to retrench me as well as other employees. Will you please tell me what kind of compensation benefit we can claim from the company?
I along with my sixteen colleagues are waiting for your response.
Thank you.
With Best Regars,
SS
From India, Delhi
Dear SS,
There is no concept of a "permanent job" in the private sector. You are paid till the time you work well. And then its a goodbye. In your and your friend's case, you people can refer to the terms and conditions mentioned in your offer letter/ acceptance letter. If none of the clauses have been violated, there is not much you can do.
Rajni Hira
Asst Professor
From India, Delhi
1There is no concept of a "permanent job" in the private sector. You are paid till the time you work well. And then its a goodbye. In your and your friend's case, you people can refer to the terms and conditions mentioned in your offer letter/ acceptance letter. If none of the clauses have been violated, there is not much you can do.
Rajni Hira
Asst Professor
From India, Delhi
Dear Sinha
You will get the Notice Pay as per the Terms and Conditions agreed by you at the time of joining. You will get Retrenchment Compensation, Leave encashment whatever in your credit and Gratuity.
From India, Kumbakonam
You will get the Notice Pay as per the Terms and Conditions agreed by you at the time of joining. You will get Retrenchment Compensation, Leave encashment whatever in your credit and Gratuity.
From India, Kumbakonam
Dear SS,
Rajini Hira is right, however,as regards to compensation and benifits,i would like to tell you that you will be entitled for PF,Grauity, bonus,leave encashments etc.But all these benifits accumulated will be only granted once you fulfill the exact terms of conditions attached to each benifit as per the government norms.
Kindly go through each entitlement's enactment.It is also true that the most importatnt is your appointment letter/offer letter where terms and conditions of your employements shuold have mention of these and other fringe benifits given to you at the time of joining.
Thanks
Bijay
From India, Vadodara
Rajini Hira is right, however,as regards to compensation and benifits,i would like to tell you that you will be entitled for PF,Grauity, bonus,leave encashments etc.But all these benifits accumulated will be only granted once you fulfill the exact terms of conditions attached to each benifit as per the government norms.
Kindly go through each entitlement's enactment.It is also true that the most importatnt is your appointment letter/offer letter where terms and conditions of your employements shuold have mention of these and other fringe benifits given to you at the time of joining.
Thanks
Bijay
From India, Vadodara
Dear SS,
My suggestion is just do as per terms and condition written in your offer/appointment letter for claiming notice pay(basis of gross salary or basic salary as mentioned ).
1. collect your experience and relieving letter on last day of work.
2. check you full and final settlement with accounts: salary as per payable days/Notice pay if company ready to pay/ earn Leave encasement if applicable..
Regards
Ankit Saxena
From India, Bangalore
My suggestion is just do as per terms and condition written in your offer/appointment letter for claiming notice pay(basis of gross salary or basic salary as mentioned ).
1. collect your experience and relieving letter on last day of work.
2. check you full and final settlement with accounts: salary as per payable days/Notice pay if company ready to pay/ earn Leave encasement if applicable..
Regards
Ankit Saxena
From India, Bangalore
Dear Sinha1,
When it comes to retrenchment, the following will apply:
1. The company is required to pay Notice Period as per your contract. However, some companies have special consideration since they are laying you off. Instead of say 1 month as per a contract, you might be paid even upto 3 months. Review what your retrenchment letter says on this.
2. Severance pay is governed by the Employment law. Companies are required to pay Severance, Gratuity or service pay for all the years you have worked for the company. Review your countries employment law on what it gives as guideline for this
3. Your pro-rata leave pay. Any accrued leave days that are outstanding must be paid together with your terminal dues
4. Your salary up to the last working day (Besides the notice pay mentioned above)
5. Pro-rata leave travel allowance where applicable
6. Any other allowances earned during the last month of service.
I hope this answers your question. Thank you.
Manjika
From Kenya, Nairobi
When it comes to retrenchment, the following will apply:
1. The company is required to pay Notice Period as per your contract. However, some companies have special consideration since they are laying you off. Instead of say 1 month as per a contract, you might be paid even upto 3 months. Review what your retrenchment letter says on this.
2. Severance pay is governed by the Employment law. Companies are required to pay Severance, Gratuity or service pay for all the years you have worked for the company. Review your countries employment law on what it gives as guideline for this
3. Your pro-rata leave pay. Any accrued leave days that are outstanding must be paid together with your terminal dues
4. Your salary up to the last working day (Besides the notice pay mentioned above)
5. Pro-rata leave travel allowance where applicable
6. Any other allowances earned during the last month of service.
I hope this answers your question. Thank you.
Manjika
From Kenya, Nairobi
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Standard Compensation & Benefit.xls
SC - Temporary workers given benefit compensation for not making permanent 4.4.2013.pdf