What Is The Rule For Payment Of Gratuity If A Company Closes - CiteHR
Cite.Co is a repository of information created by your industry peers and experienced seniors sharing their experience and insights.
Join Us and help by adding your inputs. Contributions From Other Members Follow Below...
As per the law, all the people have completed the five continuous years in the company as employee are eligible for the gratuity.
The other thing that I want to suggest is thatl, if an owner is aged, closing the running company is not the solution but the owner should hand over the responsibilities to one of the trusted person who can run the company successfully.
As of now, Ratan Tata is aged now but he can not think of closing the company but to handover it to a eligible and trusted person as there's so many people are employed by his companies.
It's also not the matter of small or big company but thinking about the future of people who worked for you for so longer whether it 2 people or 2 crore or more.

Dear Sir,
I am working with a company since 2011 now due to financial crunch company is sinking and under control of lenders. All top officials from HR also left. I am not sure that while leaving the company I will get gratuity from company, though the fund was made . Is there any legal actions to be initiated. One of hard part of it, company is also referred to NCLT.

Please Login To Add Reply

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2020 Cite.Co™