The Retrenchment Compensation is mentioned in Industrial Disputes Act 1947. It is 15 days wages for per completed year of service or part thereof. This is the compensation payable at the time of retrenchment. This is the amount called as Retrenchment compensation payable for the services rendered by workman. Termination notice or pay in lieu of notice is given as per service contract.
16th January 2013 From India, Kolhapur
Retrenchment will be illegal if
a) Retrenchment compensation @ 15 days wages for per completed year of service not paid at the time of Retrenchment
b) Notice or Notice pay in lieu of Notice is not given
c) Seniority list is not displayed & served to the specified authority
If any one or all conditions are not followed at the time of retrenchment, then the Retrenchment will be illegal
These are the must conditions which shall be followed at the time of retrenchment
17th January 2013 From India, Kolhapur
#AnonymousWe were laid off from a IT software company at Bangalore 20 months ago. [ We were forced to submit resignation letter, to make it appear as if it was voluntary resignation ] The company has about 3000 employees. It is a profit making IT company.
Can you please clarify the below points:
1. Is it proper to lay off people like this?
2. Can we get back our jobs in the same company?
20th February 2015 From India, Bangalore