The term termination is very broad in nature and refers to the cessation of employment due to any reason. It includes discharge and retrenchment as well. It may also involve mass retrenchment, whereby the entire or a majority of employees are terminated.
Suspension is the temporary cessation of employment as part of disciplinary action taken against an employee. Suspension should not be seen as a punishment, but the employee found guilty of misconduct is barred from attending the office temporarily. Once the inquiry is completed, the employee may either be reinstated after the suspension is lifted or discharged or dismissed based on the findings of the inquiry officer.
Discharge refers to the termination of employment. The term is also used to refer to retrenchment. Often, the term is used to signify the termination of employment following misconduct.
Dismissal also denotes the termination of employment. The key difference between the two is that discharge is somewhat sympathetic, whereas dismissal is very severe. An employee who is discharged will be eligible for gratuity (if they have completed 5 years of service), Provident Fund, last pay, and other benefits as per the company's standing orders. In contrast, an employee dismissed from service will not be eligible for such benefits. Usually, an employee is dismissed only for very severe misconduct.
Regards,
Madhu.T.K