What happens to an employee who has worked for 10 years in a large multinational company if the company closes down? What compensation can they expect?

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Law Forum › Category: Labour & Service › What happens to an employee who has worked for 10 years in a large multinational company if the company closes down? What compensation can they expect?
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Apni Law Staff asked 2 years ago

What happens to an employee who has worked for 10 years in a large multinational company if the company closes down? What compensation can they expect?

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Apni Law Staff answered 2 years ago

An employee with 10 years of service in a company closing down is entitled to retrenchment compensation under the Industrial Disputes Act, 1947. This compensation is based on their salary, length of service, and age, and is meant to help them find new employment.

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