Bankruptcy And Employee Settlement

I need a serious help here. My company is Private ltd and managed my there own family member. Company is going towards bankruptcy .

In above case, what will be employees roll. What we suppose to do, we are not getting salary, bonus, leave in cashment on time.

If we give the Resignation then above , we donot know when we will get our dues (gratuity, full and final settlement .

If we wait still the bankruptcy then what will happen ? in that case, we approach Labour court then what ? what kind of compensation we will get.?

So I want to know how we can claim all of the above.
a.What are the legal formalities involved in this?
b.From where to start the procedure?
c.Where to read the laws governinig a Company insolvency in India?
d. How can employees claim the dues, compensation and complete all the necessary legal formalities.

I need a serious help here. My company is Private ltd and managed my there own family member. Company is going towards bankruptcy .
In above case, what will be employees roll. What we suppose to do, we are not getting salary, bonus, leave in cashment on time.
If we give the Resignation then above , we donot know when we will get our dues (gratuity, full and final settlement .
If we wait still the bankruptcy then what will happen ? in that case, we approach Labour court then what ? what kind of compensation we will get.?
So I want to know how we can claim all of the above.
a.What are the legal formalities involved in this?
b.From where to start the procedure?
c.Where to read the laws governinig a Company insolvency in India?
d. How can employees claim the dues, compensation and complete all the necessary legal formalities.

If you have an apprehension that the company is going to be liquidated, you can wait till the liquidation process starts. Your claim will be treated as preferential along with other statutory dues. The Liquidators will call for the claimants statements. Nevertheless, you can make a representation before the labour Authorities for non payment of wages right now. In the representation you can make it clear that the company is being wound up and you can seek the intervention of the Department to get the compensation as per the ID Act and Gratuity as per Payment of Gratuity Act paid.
Regards,
Madhu.T.K

All of you,
My Compay ask all of us to resign Mar2012 and rejoin from Aug2013. They do because they hv not paid pf contribution of both last 2 n half yrs. Also not informing and give information about how they settel all of us Full and final settelment. Please advise what action need to take. We all infom PF PRO and others.
For information above happing as per top order mgmt instruction.