PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Insolvency N Gst Professional
Recruitment/talent Acquisition, Career Counselling
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nathraoWhen the inevitable is about to happen,read the signs and move out.
Rejecting the offer of voluntary resignation will only result in termination or joblessness when company folds up.
Legal action will not help in short run in any way.
Companies do collapse.
If you get a better offer,leave the present employment gracefully.
From India, Pune
varghesemathewI do not think that there is much scope for any legal action available for you if they terminate you.The management can prove that you were holding supervisory position and hence you are not eligible for any right under the ID Act You may also examine the provisions of Karnataka shops and commercial establishment Act on legal possibilities..Whether you resign or terminated you will get gratuity.You are also eligible for bonus and EL amount depending upon Co's policy.You can transfer or withdraw PF.
From India, Thiruvananthapuram
In reply to the choices you mentioned--1,2,3,a & b--I would say NONE OF THEM.
The ONLY choice you have is TO ACCEPT REALITY & move on in life & career.
In way, you have some sort of an advance notice about what's about to happen---so make the best use of it. Begin to look for new jobs ASAP.
And also suggest learn from this situation that there are ALWAYS downsides to any choice one makes.
Most often, people of your age get enamoured by the IT sector that they fail to see the downside....which is what you are facing now.
Things were far worse in the 2001 & later 2008 recessions.....thousands of IT professionals got laid-off getting a shock of their lives. Till then, getting laid-off was unheard of in the Indian context......one only heard that it happens in USA.
Suggest DON'T wait until you get terminated/fired. Buy time to the extent you can & then resign after getting another job. In the meantime, if your turn comes to be contacted by HR, prefer resigning to being terminated. Like Nathrao mentioned, termination will bring more new problems than solving this one.
Now-a-days, Companies prefer those who can join ASAP....which is what you would be able to do. So you DO have an advantage, in a way, over others in your job hunt. And you can always be candid about the reason for resigning......company going for layoffs due to lack of projects is now an accepted fact of life in the IT sector.
All the Best.
From India, Hyderabad
AnonymousAll the responses are not valid. You can fight back... dont resign.. i was in similar situation and they have finally allowed me to join the project