Closure Company

When a company is closed then what are the liabilities of company for his employees.
Exp: A employee is working for last 4 year now company give notice that company will be closed on a particular date. What kind of benefit and remuneration will give company to an employee.

The company is liable to pay all dues to its employees when it is closed will be the most probable answer and the same, may seem to be, so vague as your very question is. Better give the important details like the total no of employees in the status of workmen, the age of the company, the reasons for its closure, the length of the service of the workmen etc,.

Dear Mitva39,
Pl note that you did not mention the nature of work/ activities carried by the company. As per ID Act - 1947 rules it is clearly defined the procedure in Chapter VA & VB for taking steps on closure of the company and liabilities on the part of employer to fulfill the obligations as per rules. Pl go through the same.
Thanks & Regards,
V R RAO PULIPAKA.