What exactly is your query; Lat Off or Retrenchment Compensation?
The company is taking undue advantage of ill informed and non united employees at all levels.
The united employees succeed to repel illegal action of the companies.
You have might have gone thru the latest publications about TCS, and that employees united and Trade Unions embraced them.
Resignation can not be extracted in both cases. Record evidence of extarction of resignation (audio/visual/minuted/witnessed)!
Deamdn and extarction of resignation is offence.
Consult an able labor Law Consulatnt/Service Matters lawyer/Law firm with all docs on record and evidences.
In case of Lay off company has to provide alternate appointment and lay off compensation till then………………..and in case of retrenchment company has to rather give notice to employee.
What is the compensation paid by company after extarction of resignation/
For retrenchment compensation you may go through Section:25F,25N and Chapter VA & VB of the Industrial Disputes Act.
Some extract for your ready reference:
NDUSTRIAL DISPUTES ACT, 1947
Conditions precedent to retrenchment of workmen.
25F. No workman employed in any industry who has been in continuous service for not less than one year under an employer shall be retrenched by that employer until—
(a) the workman has been given one month's notice in writing indicating the reasons for retrenchment and the period of notice has expired, or the workman has been paid in lieu of such notice, wages for the period of the notice;
45[***]
(b) the workman has been paid, at the time of retrenchment, compensation which shall be equivalent to fifteen days' average pay 46[for every complet¬ed year of continuous service] or any part thereof in excess of six months;
and
(c) notice in the prescribed manner is served on the appropriate Government 47[or such authority as may be specified by the appropriate Government by notification in the Official Gazette].