Your employment will be subject to the contract and terms and conditions of the employment that you have entered upon with the company before joining the company.

regards

It will depend upon details terms of recruitment. Not merely on advertisement of recruitment indicating pay scales.

Please elaborate your query?

is it a PSU?

how much ownership does the state have in the company?

Regards

Govt. can retrench any or all employees after giving due notice and shall pay retrenchment benefits to the affected employees.

Depends on nature of apportionment ? whether it is contractual or direct recruitment. Status of employee whether temporary or permanent has nothing to do with Companies act. It governs by service rules.

Employee have Preferential rights in respect of arrears of wages and claims out of the fixed assets.

Hi, 

The pay structure given in advertisements are permanent in nature and if the company is dissolved; the employees would be given proper compensation and they may be taken in other company also, in case of govt company. 

when the company is dissolved or goes into liquidation or winding up, then the workers' or employees' dues are adequately taken care of by the Official Liquidator who will be appointed by the Court. Workers' dues are protected under the Workmen Compensation Act and their dues have a first charge on the assets of the company under liquidation

Greetings!

No Conpany will advertise with a pay scale they can just advertise about the vacancy but not with the pay scale and it's not permanent as of the private sectors. 

However for government sectors the advertise and its permanent .

Dear

The employment is temporary or permanent depends upon the employment contract you sign with the company before joining the job. 

If company is dissolved the employment comes to an end with payment of compensation to employees or the company which take over the business hire those employees 

- Employees of a PSU are not government servants, because they not work directly under the central government or any of the state governments or the Government of a union territory.

- The terms of employment and perks, pay structure, organization structure etc. all are different in a Government Organization & PSU.

- If a PSU dissolved , then settlement package will be given to the employees , in the name of VRS, and gratuity , and nothing more like a government service , who get opportunity of transfer as well.

Any recruitment procedure shall be notified with the rules, laws, and the conditions therein. 

Once the recruiting process is notified then the recruiter is liable to the condition of the recruitment and cannot withdraw his conditions at a later stage.

The recruitment is permanent or temporary can be seen from the conditions mentioned therein in the notification.

If it is a government owned company then the state would make alternate arrangement to the employees who have been rendered unemployment due to dissolution of the company.

The employees cannot be left stranded on streets due to dissolution of the company.

The rules shall apply to the state owned PSU also. 

If at all such a bad situation happens, govt will try to accommodate in other PSU’S. Even if it is not possible, then all employees will be sent out to their home.with their accumulated pf,gratuity etc.

Yes it should be considered govt jobs and such closure will be supported by facilities of vrs and other benefits to the employees