Dear Sir, I am working for a private limited company, suddenly the company decides to wind-off a division with a notice of 15 days and sell the assets and liability to another newly formed company including the employees. Whether the employees are eligible for the notice pay? if so on what law basis we should claim for it? How many months the notice pay is eligible? Whether they should give only the basic salary or the full salary?
Look forward to your reply from you.
Regards
Karthik
Look forward to your reply from you.
Regards
Karthik
Dear Karthik, Answers to all your questions can be found in appointment letter you have signed with this company. There is no case law about the duration and amount of notice period. Regards,
From India, Pune
39From India, Pune
There is no job loss for the employees. Your company has been acquired by another company. The company is not liquidated. Only the management has changed. No notice period need to be paid in absence of job loss.
From Indonesia, Jakarta
From Indonesia, Jakarta
Since the acquiring company is taking all the liabilities, there is no need to worry about. It includes all statutory liabilities including Gratuity if applicable, untill unless new appointment letter is given to you as a new joinee.
From India, Ahmadabad
From India, Ahmadabad
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Company Profile.ppt
Company Profile Letter - Global Risk Management Services.pdf