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Will I get gratuity and pending salary after my bankrupt company liquidates?

Milind Vadjikar |757 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Nov 03, 2024

Milind Vadjikar is an independent MF distributor registered with Association of Mutual Funds in India (AMFI) and a retirement financial planning advisor registered with Pension Fund Regulatory and Development Authority (PFRDA).
He has a mechanical engineering degree from Government Engineering College, Sambhajinagar, and an MBA in international business from the Symbiosis Institute of Business Management, Pune.
With over 16 years of experience in stock investments, and over six year experience in investment guidance and support, he believes that balanced asset allocation and goal-focused disciplined investing is the key to achieving investor goals.... more

Asked by Anonymous - Oct 18, 2024Hindi

Money

I worked in a company for 16 yrs and then one fine day it filed for bankruptcy. I waited for 3 months for the company to revive and then submitted the resignation and served 3 months notice period too. During last 6 months, I received salary for just 2 months. Court has ordered for liquidation after all efforts to find a resolution plan failed. Is there any chance of getting gratuity and pending salary?

Ans: Hello;

You & your other office colleagues may consult a lawyer specializing in labour laws regarding your concerns and take further steps, as per his advice to protect your interests.

Best wishes;

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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