Hi,
I am currently employed in foreign FMCG company since the past two years. The company came to India in July 2014 and on 5th July 2016 they informed all the employees that the company is winding up its operations in India. all the employees have been asked to look for alternate jobs.The company is willing to pay everyone 3 months salary (as per the contract) + 1 month's salary as discretionary pay + Bonus + Cash out for shares. They have asked me not to come to work from August 1st onwards but said they will pay me my monthly salary for August in August and the F&F for Sep & Nov(discretionary pay + Leaves+ Shares) on Sep 30th. the bonus amount will be paid in Dec 2016.
Below are the questions i have:
1) What am i legally entitled to be paid as per the contract? (the notice period as per the contract is 3 months)
2) Should i wait till Sep 30th for my F&F if I am relieved from July 31st? And should i wait till 31st Dec for my bonus payment? I feel i need to be paid on 31st July if that is my last day
3) The share cash out which they are offering is for last year and not this year. Am i eligible for this year's share entitlements? (please keep in mind that the company's financial year is from October to September, which means i have already completed this year but they are not giving me the shares for this year)
4) Can i go to court asking for 1 years salary as severance? Ideally i was promised a career plan by the company and after giving 2 years to the company they are not doing anything extra other than the legal obligations.
Please advise
I am currently employed in foreign FMCG company since the past two years. The company came to India in July 2014 and on 5th July 2016 they informed all the employees that the company is winding up its operations in India. all the employees have been asked to look for alternate jobs.The company is willing to pay everyone 3 months salary (as per the contract) + 1 month's salary as discretionary pay + Bonus + Cash out for shares. They have asked me not to come to work from August 1st onwards but said they will pay me my monthly salary for August in August and the F&F for Sep & Nov(discretionary pay + Leaves+ Shares) on Sep 30th. the bonus amount will be paid in Dec 2016.
Below are the questions i have:
1) What am i legally entitled to be paid as per the contract? (the notice period as per the contract is 3 months)
2) Should i wait till Sep 30th for my F&F if I am relieved from July 31st? And should i wait till 31st Dec for my bonus payment? I feel i need to be paid on 31st July if that is my last day
3) The share cash out which they are offering is for last year and not this year. Am i eligible for this year's share entitlements? (please keep in mind that the company's financial year is from October to September, which means i have already completed this year but they are not giving me the shares for this year)
4) Can i go to court asking for 1 years salary as severance? Ideally i was promised a career plan by the company and after giving 2 years to the company they are not doing anything extra other than the legal obligations.
Please advise