Hi all,
Can you please share your experience with regard to the retrenchment rule? Over the last three years, our company has been facing financial crises. Please guide me - can we retrench some employees from our organization? If yes, what is the procedure or rule?
Regards,
Akhil
From India, Gurgaon
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1Can you please share your experience with regard to the retrenchment rule? Over the last three years, our company has been facing financial crises. Please guide me - can we retrench some employees from our organization? If yes, what is the procedure or rule?
Regards,
Akhil
From India, Gurgaon
Acknowledge(0)Amend(0)
Please provide more details about your organization, such as the number of employees and the nature of work, so that our members can respond accordingly.
General Rules for Employee Retrenchment
Some general rules to be followed during employee retrenchment are as follows:
1. The most recently hired employees should be retrenched first, while retaining those who were hired earlier.
2. If the newly hired employee possesses a skill that the more senior employee does not have, the senior employee may be retrenched in favor of the newer hire.
3. Ensure that retrenched employees receive proper notice period/pay, leave encashment/pay, retrenchment compensation, etc., in accordance with their eligibility.
Thank you.
From India, Kumbakonam
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General Rules for Employee Retrenchment
Some general rules to be followed during employee retrenchment are as follows:
1. The most recently hired employees should be retrenched first, while retaining those who were hired earlier.
2. If the newly hired employee possesses a skill that the more senior employee does not have, the senior employee may be retrenched in favor of the newer hire.
3. Ensure that retrenched employees receive proper notice period/pay, leave encashment/pay, retrenchment compensation, etc., in accordance with their eligibility.
Thank you.
From India, Kumbakonam
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