dear all please let me know about procedure of layoff & retrenchment? also provide me related forms.?..
From India, Aurangabad
3From India, Aurangabad
Hi Harsh
Lay off compensation
a) Sec. 25-C of the Industrial disputes Act stipulates a formula for computation of lay off-compensation. It states that lay –off compensation shall be equal to fifty percent of the total of the Basic wages and Dearness Allowance that would have been payable to him, had he been not laid off. The compensation so calculated is to be payable to the workman concerned for all the days on he is laid–off excepting weekly holidays. The same formula be applied for lay-off effected under Sec. 25-M of the I.D. Act also.
However, certain States might have prescribed a different formula for computing compensation by amending Sec. 25-C. as in the State of Maharashtra.. You need to verify whether your State has prescribed any different formula.
Retrenchment compensation.
Retrenchment compensation
As per Sec. 25-F of the Industrial Disputes Act, retrenchment compensation shall be computed at the rate of fifteen days average wages for each completed year of service or any part thereof in excess of six months.
Retrenchment compensation = (15 days average wages) x (No. of years of service)
B.Saikumar
HR & labour Law Consultant
Chipinbiz Consultancy Pvt.ltd
Mumbai
Mob: 09930532927
From India, Mumbai
Lay off compensation
a) Sec. 25-C of the Industrial disputes Act stipulates a formula for computation of lay off-compensation. It states that lay –off compensation shall be equal to fifty percent of the total of the Basic wages and Dearness Allowance that would have been payable to him, had he been not laid off. The compensation so calculated is to be payable to the workman concerned for all the days on he is laid–off excepting weekly holidays. The same formula be applied for lay-off effected under Sec. 25-M of the I.D. Act also.
However, certain States might have prescribed a different formula for computing compensation by amending Sec. 25-C. as in the State of Maharashtra.. You need to verify whether your State has prescribed any different formula.
Retrenchment compensation.
Retrenchment compensation
As per Sec. 25-F of the Industrial Disputes Act, retrenchment compensation shall be computed at the rate of fifteen days average wages for each completed year of service or any part thereof in excess of six months.
Retrenchment compensation = (15 days average wages) x (No. of years of service)
B.Saikumar
HR & labour Law Consultant
Chipinbiz Consultancy Pvt.ltd
Mumbai
Mob: 09930532927
From India, Mumbai
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