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,

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Answered on 4/04/14, 8:58 pm


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