Dear Seniors,
i have a query about compensation..
i want to know eligibility of compensation?
i, am working in a manufacture company in delhi, one of our staff employee joined our organization one year back with 15k gross salary. Now he want to resign, so i want to know in his full and final settlement compensation would be include or not according the compensation/ labour act.
if yes
what would be the basic formula to calculate the same??
please seniors share your knowledge
thanks & Regards,
Abhishek Bhardwaj
From India, Delhi
i have a query about compensation..
i want to know eligibility of compensation?
i, am working in a manufacture company in delhi, one of our staff employee joined our organization one year back with 15k gross salary. Now he want to resign, so i want to know in his full and final settlement compensation would be include or not according the compensation/ labour act.
if yes
what would be the basic formula to calculate the same??
please seniors share your knowledge
thanks & Regards,
Abhishek Bhardwaj
From India, Delhi
If he resigns where is the question of compensation?? What exactly is your question??Question is not clear Sivasankaran
From India, Chennai
367From India, Chennai
Dear Abhishek
In case of resignation, only the employee has to pay for the notice period if he does not service the notice period. You need not to pay anything (Notice Pay, Retrenchment Compensation) except the leave pay whatever in his credit and his normal salary for the period he served till last day of work.
From India, Kumbakonam
In case of resignation, only the employee has to pay for the notice period if he does not service the notice period. You need not to pay anything (Notice Pay, Retrenchment Compensation) except the leave pay whatever in his credit and his normal salary for the period he served till last day of work.
From India, Kumbakonam
A person with one year service, who opts to resign is not eligible to claim any compensation from his employer. He is quitting on his own volition. Hence there will be no employer's liability on this issue.
Compensation arises only on the following circumstances:-
Retrenchment by the employer;
Retirement on superannuation;
Death of an employee while in service;
Disablement due to accident arising out of and in the course of employment;
The above cases are covered under IDAct, WC Act, ESI Act, Gratuity Act etc., You may refer to the
relevant provisions in those laws.
From India, Chennai
Compensation arises only on the following circumstances:-
Retrenchment by the employer;
Retirement on superannuation;
Death of an employee while in service;
Disablement due to accident arising out of and in the course of employment;
The above cases are covered under IDAct, WC Act, ESI Act, Gratuity Act etc., You may refer to the
relevant provisions in those laws.
From India, Chennai
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.
Employee's Compensation Act-2009.pdf
Compensation for deceased Employee.xls