I am working a State Co-op Bank in Mumbai which is registered under Multi State Co-op Act,1984. The bank lost its banking license in 2003 as per judgement of Supreme Court. It is under liquidation since Dec2005. At present all the deposit holders are paid. Only the equity holders are to be paid. The arbitration in case of advances has been pronounced and the liqudiation process may take another 5 years. Overall the bank is likely to earn good profit at the end of the liquidation. The services of the employees were fully paid at the time of closure of the bank in 2003. However few employees were later taken on rolls as temporary and only lumsump amount is paid every month regularly. Under these circumstances please clarify a) whether employees are eligible for PF and Gratuity ? if so with retrospective date of 2003 or not? b) after liquidation all the employees (10 persons) will be jobless.Is possible for the Liquidator to exercise his power for providing a compensation out of the expected profits in the form of pension to the employees? c) If (a) & (b) are to be negotiated with the liquidator who is dynamic and helpful how we should proceed legally to make a sound proposition? Can any body help me?