one pvt company shutdown by the company management,what benefit an employee should receive from the company,even there are more than 20yrs employee working in this company.
please suggest what approach should employee to put with the management for their service done other than regular Final settlement.
From India, Mumbai
please suggest what approach should employee to put with the management for their service done other than regular Final settlement.
From India, Mumbai
Dear Mr. Syedwasi,
If the company is shutting down; the company will pay you retrenchment compensation which will be equal to 15 days salary for every year of completed service. Besides, the employee needs to be paid with the notice period amount and other compensations made would be gratuity under The Payment of Gratuity Act (if the employee has completed 5 years of continued service) incase if the employer is covered under this act. Make sure of getting the full & final settlements and also withdraw PF by filling forms for signatures required from the HR department.
From India, Visakhapatnam
990If the company is shutting down; the company will pay you retrenchment compensation which will be equal to 15 days salary for every year of completed service. Besides, the employee needs to be paid with the notice period amount and other compensations made would be gratuity under The Payment of Gratuity Act (if the employee has completed 5 years of continued service) incase if the employer is covered under this act. Make sure of getting the full & final settlements and also withdraw PF by filling forms for signatures required from the HR department.
From India, Visakhapatnam
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Procedure-of-Re gistration-of-N ew-Pvt-Ltd-Comp any[1].pdf
Company Profile.ppt