Legal Question in Business Law in India
What compensation should one give to workers in their industry when they are shutting down due to financial losses
Asked on 4/04/14, 8:08 pm
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
05.04.2014
Dear Sir / Madam,
An organization that is winding up has to pay off and settle all statutory dues of its employees like Wages, Salary, Allowances, Reimbursements, DA, Bonus (announced / declared), PF, Gratuity and should the Management & Board decide three month's basic Wages to workers and basic Salary to staff as compensation.
Regards,
Answered on 4/04/14, 8:58 pm
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