First of all thanks to Cite HR team for accepting my request. I need help regarding retrenchment compensation to worker who works with our organization more than last 10 years. instead of Bonus & Gratuity , what will be the retrenchment compensation in-case of closure due to unavoidable circumstances?
From India, Nashik
From India, Nashik
I think what you mean by " instead of bonus and gratuity " is contextually and actually " in addition to bonus and gratuity ". As per Sec.25F(b) of the Industrial Disputes Act,1947 the workman likely to be retrenched should be paid compensation at the time of retrenchment @ 15 days average wages for every year of completed service apart from one month's notice or notice pay in lieu thereof.
From India, Salem
6018From India, Salem
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Worker's Compensation.do c
Published_draft _rules_on Employees_ compensation 3.6.2020.pdf