Section 25FF in The Industrial Disputes Act, 1947

Where the ownership or management of an undertaking is transferred, whether by agreement or by operation of law, from the employer in relation to that undertaking to a new employer, every workman who has been in continuous service for not less than one year in that undertaking immediately before such transfer shall be entitled to notice and compensation in accordance with the provisions of section 25F, as if the workman had been retrenched

Sixty days' notice to be given of intention to close down any undertaking.

The compensation shall be equivalent to fifteen days' average pay for every completed year of continuous service or any part thereof in excess of six months.

Unpaid wages to workers rank topmost in priority in any case of winding-up of business. The quantum of compensation is the gross monthly salary.

The method of compensation to workmen after closure of an undertaking should be followed as per section 25(o)(8) of the ID Act, 1947.

Every employee has a right to get compensation in case of a transfer of ownership of industrial unit i.e. a change in the employer as per section 25FF of the ID Act, 1947.

You need to pay the compensation as per workmen compensation Act depending the same as closure, layoff or other things 

Dear client,

compensation will be 15 days average pay for every completed year of continuous service or any part thereof in excess of 6 months. 

Thank you.