Closure of industry
RITESH AGARWALLA
(Querist) 14 October 2017
This query is : Resolved
If a company is closing down due to inappropriate market condition.What is the liablity of an employer and what is the steps to close down the industry.
EX 1: ONE OF THE WORKER STARTED WORKING FROM 01/04/2010 AND WORKED FOR 110 DAYS FOR 2010-11,120 DAYS FOR 2011-12,135 DAYS FOR 2013-14,90 DAYS FOR 2014-15,212 DAYS IN 2015-16 ,291 DAYS IN 2016-17 AND 168 DAYS TILL DATE. WHAT IS THE COMPANYS LIABLITY FOR THIS EMPLOYEE IF THE INDUSTRY SHUT DOWN PERMANENTLY.
EX 2: ONE OF THE WORKER STARTED WORKING FROM 01/07/2016 AND WORKED FOR 226 DAYS IN 2016-17 AND 168 DAYS TILL DATE. WHAT IS THE COMPANYS LIABLITY FOR THIS EMPLOYEE IF THE INDUSTRY SHUT DOWN PERMANENTLY. PLEASE SO BOTH THE CALCULATIONS SEPARATELY FOR ALL THE LIABILITIES.
Ms.Usha Kapoor
(Expert) 20 October 2017
For employer's liability before closing down the industry you click the following link. you -please click following link.
https://www.citehr.com/486726-employer-liability-towards-employee-if-closing-company.html
For befotre colosing down the business he should take the following 10 steps as provided in the link.
https://quickbooks.intuit.com/r/financial-management/a-10-step-checklist-for-closing-a-business/
For calculation of retrenched employees salary you engage a labor law expert.
