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What happens if my company changes its legal structure or transfers ownership?

If any change takes place in the form of the establishment or in its legal status, valid contracts at the time of change shall continue to exist so between the new employer and the employees of the establishment, and service shall be deemed to be continuous. Both the former and the new employers shall jointly be liable for a period of six months for the fulfillment of obligations arising from contracts of employment in the period prior to such change and after the lapse of the said period the new employer shall be solely responsible.

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1 comment

  • Any work. Study intermediate

    aravind

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