Layoff
It refers to the temporary removal of an employee from the payroll of the organization.
- The reasons are beyond the control of the employer.
- The employee is not terminated and expected to be called back.
- It seems to be in cyclical and seasonal industries.
According to the Industrial Dispute Act, 1947 layoff is defined as “failure, refusal, or inability of an employer, on account of a shortage of coal, power or raw materials or accumulation of stocks or breakdown of machinery or by any other reason, to give employment to a workman whose name appears on the muster rolls of his industrial establishment and who has not been retrenched.”
Think-
- Is the laid-off worker is entitled to compensation? (Think- legally and ethically)
- Its impact
- Reasons of Layoff
Tag:11accounts, 11commerce, 11economics, 11thcommerce, 12accounts, 12commerce, 12economics, 12thCommerce, Accounts, BComAccounts, BESTCOMMERCEANDACCOUNTANCYPLATFORM, CAFinalAccounts, CAfoundation, CAfoundationAccounts, CAfoundationEconomics, CAfoundationLaw, CAHARSHITA, CAInterAccounts, commerceachiever, commerceoptional, Economics, economicsclass12, GST, impact of layoff, incometax, Is laid-off worker is entitled to compensation?, Layoff, Layoff meaning, MComAccounts, NCERT, ncertcommerce, Reasons of Layoff, tax, UGCNETCommerceOptional, UPSC COMMERCE OPTIONAL BOOKS, UPSC Commerce Optional Material, UPSC Commerce OPtional Previous Year Paper Solution, UPSC Commerce Optional Previous Year Papers, UPSCcommerceOptional, UPSCoptional, USE COMMERCE OPTIONAL PDF
