Dear Learned Members,
Thanks a lot for your valuable inputs, I have gone through the previous comments on this thread and found them very informative. Just wanted to post some queries that I had :
1) I was working in the capacity of Vice President-Sales at a mid-sized ( approx. 1,000 employees) IT Enabled Services company based in Hyderabad. My salary was Rs. 18 Lacs/annum, plus performance based incentives.
2) I was terminated in February 2013 citing performance reasons, which are clearly spurious since my salary increments, promotions, performance incentives & performance appraisals have been exceptional in the 3 years that I worked with the company.
3) I know that I won't come under the category of a Workman under the Industrial Disputes Act 1947, considering my position, responsibilities and salary.
3) Anyway, my question was : will I be eligible to claim Service Compensation from the company, i.e. 15 days of salary for every 1 year served under the company, as per Clause 47 of the Shops & Establishment Act of AP, 1988 ?
4) My Full & Final Settlement has still not been paid by the company, since they proposed a significant reduction in the same which I didn't accept. So, as on date, the possibility of getting a service compensation is still open.
Please let me know if you need any clarifications before providing your valuable advise.
1st July 2013 From India, Bangalore