Compensation and benefits
kishore kumar
(Querist) 27 August 2013
This query is : Resolved
Hello,
I'm working in a MNC, here they are ramping down employees due to closer of process, each process consists of 100 employees.
My query is that - is there a specific duration for an employee to provide notice to employees to leave the company? and also compensation. If the employer is not willing to compensate or if the employee provided short notice period then, what is the solution?
Regards
Kishore
M.Sheik Mohammed Ali
(Expert) 28 August 2013
you are not mentioned how long you were worked at the company,
basically one month notice to given by company,
certain amount as compensation give to employee
but minimum completed 2 years.
M V Gupta
(Expert) 28 August 2013
Generally one month notice or pay in lieu thereof is provided in MNC contracts. The MNC can therefore terminate service of an employee by paying him one month salary instead of notice. If the person has worked for more than 5 years gratuity is payable to him at the rate of one month pay foe each year of service. PF contribution of employer also is payable if the employee chooses to close his PF A/c.
Murali Krishna
(Expert) 28 August 2013
Notice period from either side, Security amount from employee for breach of period of service one has to work, terminal benefits, etc are conditions of service and are normally stated in your offer of employment. Pl refer your letter of appointment.
Raj Kumar Makkad
(Expert) 29 August 2013
You shall have to go through the service rules or service agreement duly executed between the employer and employee for the specific service of an individual.
