Company Has Ask Me To Resign Due To Business Loss

Dear All,
i am working with company since last 10 months as a HR executive. I takes care of recruitment majorly.I verbally ask to resign because company is not doing wel in terms of business.also my performance is good.i saved companys cost while doing recruitments.now the recritment has been freeze due to business loss. so they have ask me to resign. please lt me know can i ask for next 4 months salary to them if they want me to resign?
OR please let me know what is the best i can do?

Hello Vinaya Kulkarni,
While empathizing with your situation, let me also NOT MIX-UP issues.
You are a HR professional yourself--what does your Appointment Letter say? Does it say that you or the Company is eligible for 4 months salary, in such situations?
Pl go thru your Appointment letter & I am sure you will find the answer yourself.
Coming to your next step--I guess you don't have a choice other than to look for another job.
All the Best.
Rgds,
TS

Hello Vinay,
Don’t get panic all will be well. This is not end to your career MOVE ON.
I agree with TS, you should go through your employment contract.
Employer asked you alone to resign or many more employees to resign. Are they closing down the business?
If this is case of redundancy or retrenchment then they will made the payment as applicable to you.

Hi, now you are on the other side of the same table., earlier you probably might have asked so many employees to leave the organization!!!! it is very obvious that you might have been asked by some one the same question. what did you answer, the same applies to you here. Over n above all these issues you are a human being before becoming HR., you should represent to the management about the hardships one will face upon such decisions. had you made a potential policy that every ATG person will be paid a lump sum of X amt to safeguard their personal interest. Hope you do it at least in your next assignment. All the very best to all you out there!!!

Hi Vinaya Kulkarni,
I accept with what our fellow members have commented. However, apart from the F&F amount, please ask them whether they can support you in getting a new job. As you know that you have no other choice, rather than looking out for a new job. You can start looking out for a new job, stating that you are presently employed. This also helps you in many ways. However you can also inform the new employer, that you can join immediately, as the company is not doing well. Employers kinda prefer those who are presently employed rather than those who have left, no wonder what ever the reason is.

Hi,
What will happen if you don't resign? The company will terminate you. What will then happen? You won't have even a proper track record.
Who will pay four months' salary for a 10 month old worker? NO one.
Please bear with me for the harsh questions and answers. My intention is to help you to understand realities. Ask the company for one or two month's time and catch hold of a job in that time.
You must improve your English, if you want get into a good company.

Well, there must be notice period mentioned in the appointment letter that applicable to both employee as well as employer. If they ask you to leave or resign they need to pay the advance salary or you need to work for a month to get the last month salary after resign or as mentioned in the employment agreement.
You can''t ask for 4 month salary for resigning if is not mentioned in appointment letter.
The base line is you need to follow whatever is mentioned in the appointment letter regarding leaving or resigning the company.

Dear All,
Is there any provisions in HR community, where we as HR professional can help the person like Mr. Vinay Kulkarni, if any vacancy existing with anyone ??????
Regards
MMB

I am curious Vinay, as to why of think the company will or should pay you 4 months salary ?
I would also be interested in knowing how you saved your companies money in 10 months and how much did you save.

Hi Vinya,
Like what others have commented on your question, you should refer back to your Letter of Appointment.
If the company wants to terminate you then they should compensate you (depends on the term and condition in the LOA).
Your performance is rated by your employer and i believe that there are some other reason aside company financial crisis.