IT companies in Karnataka now do not enjoy blanket exemption from standing orders. Company should have framed its standing orders within 6 months and till then model standing orders should apply.
It companies are under SE Act of the state.
Model standing orders, IESO Act, SE Act may be available at Dept. of Labor website of your state or you may buy the latest version from market.
Ideally the penalty or notice pay in lieu of notice should be same for employer and employee. What is the notice pay in lieu of notice in case the company issues termination order? Does it specify it shall be the choice of the employee to accept notice pay in lieu of notice period?
What is the logic and ground for determining the amount of penalty for employee as Rs.100000/.
The notice pay ideally is @ Basic + DA, as employer disburses gratuity, paid leave, OT, Bonus….. at this rate.
Were you persuing some critical project of the company and have you finished it?
Model standing orders: 13. Termination of employment.--(1) For terminating employment of a permanent workmen, notice in writing shall be given either by the employer or the workmen - one month’s notice in the case of monthly-rated workmen and two weeks’ notice in the case of other workmen: one month’s or two week’s pay, as the case may be, may be paid in lieu of notice.
SE Act Karnataka: 39. Notice of Dismissal Clause {7}
Valuable advice of learned experts/members is sought.
