Warning: preg_replace(): Empty regular expression in [path]/showthread.php on line 2381
Retrenchment Benefits for staff - after serving 07 years as Executive-Accounts in a company - CiteHR

No Tags Found!

SH

Shai89308

Executive Hr

AS

Ammu Shanvi

Human Resource

GS

G SHASHI KRISHNA

Senior Manager - Hr

AH

Aizant HR

Human Resources

MA

MARSHAL

Safety Officer

AK

Anish Katoch

Hr Executive

PR

PranjalR

Hr Recruiter

AP

Alka Pal

Hr Executive

Karthikeyan8195

Management Consultant

MK

Mohit Kumar Puri

Head Marketing

AU

Austex

Accounts Manager


rupeshkumar.kiran
5

Hi All, If a staff resigned from his job after serving 07 years as Executive-Accounts in a company, what are the benefits applicable for him at the time of his resignation. Please suggest me at the earliest.
From India, Warangal
umakanthan53
5967

Since resignation is a termination of the contract of employment initiated by the employee himself, he is entitled to the terminal benefit of gratuity only subject to the conditions of applicability of the PG Act,1972 to the establishment and his completion of the minimum qualifying service.
In addition, he is entitled to encashment of EL at his credit if any and to proportionate bonus for the accounting year during which he worked till the date of his resignation.
No retrenchment compensation.

From India, Salem
mohammad-ibrahim
Gratuity, EL encashment and statutory bonus of financial year till the date of resignation. Apart from these benefits, he will be eligible to get his monthly salary and incentives if applicable.
From India, Ghaziabad
saswatabanerjee
2358

One small correction to Mohammad's post
He is eligible for incentives only if it was a part of his contract. If the incentives are at option of the employer, then he is not entitled to it as a right

From India, Mumbai
Nagarkar Vinayak L
617

Dear colleague,

To get the retrenchment benefit, the ' wokman' category of the employed person, should have been 'retrenched' in the first place as per the provisions of the Industrial Disputes Act/Rules . Retrenchment is an act on the part of employer to terminate the services whereas resignation is an act by the employee/ workman to bring an end to his services. Therefore, as rightly stated by learned colleagues, in this case, he is not entitled for the retrenchment benefit save other due terminal benefits.

Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant

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.




About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.