Resignation After 5 Years: What Compensation Is Due and What Are the Rules?

Dear Seniors,

If an employee resigns of his own accord, what compensation should be paid if he/she has worked for more than 5 years? Please provide the relevant rule position as well.

This matter should be clearly defined by your separation or retirement policy, which should be part of your Employee Handbook and/or HR Policy Manual. A good company makes it clear to employees during induction about their entitlements when they stay long in the service or employ of the company!

In the absence of a company policy, your country's Labor Law will be followed. Generally, labor law mandates the entitlement of an employee after a certain duration of service (expressed in the number of years of regular employment).

Regards,

The earlier poster has given, in broad terms, the entitlements. Gratuity, for example, may be due to you. Similarly, any accumulation in PF. Otherwise, you need to check out your old company's rule book for any specific entitlement being given by the company.

Dear Sir,

If the contract worker works in central government contract works, what are all the benefits to be paid to him (as per the Minimum Wages Act) on his resignation and retrenchment for the following periods:
(a) less than 240 days
(b) More than 240 days
(c) less than 5 years
(d) More than 5 years

Regards,
Md. Shadiq

Hello Nathrao,

It's also mentioned that "Experienced Professional from Industry- Maximum with one year experience."

@RadhaChawlaSharma-- Better clarify the queries/doubts the members have. Else, some members may turn up and go back disappointed.

Regards,
TS