Compensation for termination of employees in private sector

770 votes

Hi
I understand,AGM stands for Assistant General Manager.
If that is so,you are entitled for compensation to the extent as mentioned in the letter of appointment only i.e two months notice pay only.
An employee is entitled for "retrenchment compensation"only if he is employed to do a kind of work that entitles him to be categorized as a "Workman" as defined under the Industrial Disputes Act 1947. Managers are not covered under the Workman category and therefore not entitled to the protection of law as provided under the above named Act and are entitled to only the remedies as contained in their service contract i.e Letter of Appointment and other conditions attached therewith.

Advocate Pravin Sharma LawRato

935 votes

THEY SHOULD GIVE SOME REASON FOR TERMINATION OTHERWISE IT WILLBE TERMED AS ILLEGAL TERMINATION. IF THE COMPANY IS SUFFERING FROM THE LOSSES OR WORK IS REDUCED OR OTHERWISE THEY SHOULD BE SPECIFIC FOR TERMINATING. ENSURE THAT IT BONUS , GRATUITY LEAVES ENCASHMENT ETC OR PAID BY THEM TO THE EMPLOYEES OR ELSE U CAN DIRECTLY APPROACH THE LABOUR COMMISSIONER OFFICE FOR GRATUITY .... OR ELSE FILE CASE IN THE COURT.

Advocate Surinder Singh LawRato

675 votes

If there is a notice period of 2 months then for sure you will get compensation for those two months.
Over to this if you have a good hold with the higher officials of the company and you are in the capacity to negotiate by way of position and situation you hold in the company then you can ask for severance sum. This is absolutely legal but not mandatory as per law. So your position will help you to get this sum and not compulsion by way of law.

Advocate Pulkit Prakash LawRato

778 votes

NO, AS PER THE APPOINTMENT LETTER YOU CANNOT CLAIM FURTHER 15 MONTH SALARY FOR ANY COMPENSATION WHEN IT IS CLEARLY MENTION IN THE APPOINTMENT LETTER THAT 2 MONTH NOTICE FROM THE EITHER SIDE WHEN COMPANY ALREADY FULFIL AS PER THE CONTRACT.

Advocate Subodh Kumar Kaushik LawRato