Hi, Can anyone tell when the company is decided to layoff all the employees, what are the formalities we have to do related to Statutory Compliances other than PF and ESI ? Thanks, Ishwarya
From India, Chennai
1From India, Chennai
Hi,
a) Sec. 25-C of the Industrial disputes Act stipulates a formula for computation of lay off-compensation. It states that lay –off compensation shall be equal to fifty percent of the total of the Basic wages and Dearness Allowance that would have been payable to him, had he been not laid off. The compensation so calculated is to be payable to the workman concerned for all the days on he is laid–off excepting weekly holidays. The same formula be applied for lay-off effected under Sec. 25-M of the I.D. Act also.
From India, Mumbai
a) Sec. 25-C of the Industrial disputes Act stipulates a formula for computation of lay off-compensation. It states that lay –off compensation shall be equal to fifty percent of the total of the Basic wages and Dearness Allowance that would have been payable to him, had he been not laid off. The compensation so calculated is to be payable to the workman concerned for all the days on he is laid–off excepting weekly holidays. The same formula be applied for lay-off effected under Sec. 25-M of the I.D. Act also.
From India, Mumbai
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
STATUTORY COMPLIANCES CHECKLIST ON VARIOUS LABOUR LAWS.xls