Working in an MNC company 'A' for 6yrs 11 months at the Mid-Senior level. The company is closing their office operation saying due to covid-19 widespread & pandemic situation in recent times and switching their business to another city having another branch dealing with similar business. Some employees of the company have been asked to join and provided them offer letter from the second operational company existing in another city. All employees from the first operation have been given retrenchment notice. Future opportunities limited due to age (46), and being in a niche industry and covid period. How much severance/retrenchment can I negotiate, considering being the sole earner in the family?
From India, Delhi
As per Industrial Disputes Act 1947, the retrenchment compensation is 15 days wages per year of service and notice pay, if no notice is served.
Gratuity is also calculated @ 15 days wages per year of service. You are eligible for gratuity as well.
- S. K. Mittal
From India, Faridabad
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