2. What is the law regarding the compensation to be given to employees of IT companies upon termination? What amount is to be given to them. How about the Medical Expenses and LTA components of the package?
3. A lot of companies offer employees the option of resigning in orde to avoid the ignominy of "getting sacked". Is this a wise option to choose? Is an employee not entitled to retrenchment compensation if he resigns, especially since it is under such circumstances?
4. Most layoffs occur with immediate effect as the companies do not want to pay salaries for the notice period, is this permissible?
5. During the notice period (after being paid off or resigning) what components of salary are due to the employee? i read somewhere that while serving the notice period, the employee doesnt receive HRA, Special Allowance, Cost of Living allowance, Travel allowance etc and will ONLY get the basic pay. Is this true?
Found This Useful? +Vote Up This Page Via Google.
Why Vote? User validation is extremely important for good content to prosper.
Disclaimer: This network and the advice provided in good faith by our members only facilitates as a direction towards the actions necessary. The advice should be validated by proper consultation with a certified professional. The network or the members providing advice cannot be held liable for any consequences, under any circumstances.
Explore Topical Knowledge Areas
Topic Categories >> it companies termination of employment terminating an employee termination policy basic pay Location-India-Mumbai cost of living allowance Complete List Of Categories
Interesting Relevant Discussions