Hi,
I need an understanding as to whether Retrenchment is applicable only to workman or a person employed at President Level.
Further, what extra amount other than ones ( Salary, gratuity, Leave encashment etc)mentioned in appointment letter are required to be paid
Thanks
Moushumi
From India, Mumbai
7I need an understanding as to whether Retrenchment is applicable only to workman or a person employed at President Level.
Further, what extra amount other than ones ( Salary, gratuity, Leave encashment etc)mentioned in appointment letter are required to be paid
Thanks
Moushumi
From India, Mumbai
Dear Moushumi,
Generally, retrenchment of employees is the consequence of the redundancy of their employment. In that sense it will apply to all employees including workmen. Apart from statutory dues arising out of employment like gratuity and notice pay, encashment of unavailed leave, compensation for unilateral foreclosure of the contract of employment etc.,have to be paid if so mentioned in the contract of employment.
From India, Salem
Generally, retrenchment of employees is the consequence of the redundancy of their employment. In that sense it will apply to all employees including workmen. Apart from statutory dues arising out of employment like gratuity and notice pay, encashment of unavailed leave, compensation for unilateral foreclosure of the contract of employment etc.,have to be paid if so mentioned in the contract of employment.
From India, Salem
Thank You Sir for reply and throwing light on this subject matter.
In our case, nothing as such( Compensation for Unilateral foreclosure) is mentioned in the appointment letter which does not make us liable to pay him anything other than salary, gratuity, unavailed leave claim and other emoluments mentioned in the appointment letter.
Regards
Moushumi
From India, Mumbai
In our case, nothing as such( Compensation for Unilateral foreclosure) is mentioned in the appointment letter which does not make us liable to pay him anything other than salary, gratuity, unavailed leave claim and other emoluments mentioned in the appointment letter.
Regards
Moushumi
From India, Mumbai
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
IMPACT OF RETRENCHMENT ON RECESSION.ppt
RETRENCHMENT ANNEXURE.doc