Hi, do not sign on the dotted paper without giving it a thought. Severance has to be over and above Notice period salary, bonus, PF and Gratuity. Unfortunately, India does not have social security so we should ask for better severance. It is not required that we have to sign on the paper today and we can always ask for more time to consult and negotiate. TI Management cannot terminate employees without due notice to Labor department which due to obvious reasons they would not have done.
About time we stood up for fair compensation.