Company sold out

Saravanan G (Querist) 04 September 2016 This query is : Resolved
Dear Sir

My company is acquired by another company, i am working this company for past 8 years,now i am going to work in the same job under new company; so how about my gratuity and PF settlement. Am i eligible to get my gratuity and PF from my existing company or it's automatically transferred to new company. Please help me on this. Your guidance will help me a lot

Thanks

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Kumar Doab (Expert) 04 September 2016
Has the company issued any circular/communique on take over/acquired..................or sale with stock,flock and barrel.............or any other term used by it?

Has the company communicated any T&C of take over etc?

Have you been asked to resign?

Or have you resigned?

Guest (Expert) 04 September 2016
Depends upon the agreement amongst the old company, new company and the authorised employees representatives on behalf of the employees.

You may please give appropriate description about the contents of the agreement.

adv.bharat @ PUNE (Expert) 04 September 2016
Author need to explain the query raised by expert.

Rajendra K Goyal (Expert) 05 September 2016
Refer the agreement / MOU between the two companies.

Kumar Doab (Expert) 05 September 2016
Has any termination notice been issued and supplied by employer?

Raj Kumar Makkad (Expert) 05 September 2016
You are entitled for the counting of the service period of the previous company also for all purposes.

Raj Kumar Makkad (Expert) 05 September 2016
In case the said benefits are denied to you, exhaust legal remedy starting from serving detailed representation to all concerned in the company.

Dr J C Vashista (Expert) 08 September 2016
It differs from case to case, however, MoU qua acquisition has the clause for the employees of merged company and their dues. PF shall continue since the acquiring company shall contribute their share.

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