Economic compensation needs to be paid, according to the "Labor Contract Law" provides that economic compensation is calculated according to the number of years the worker has worked in the organization, and one month's salary is paid to the worker for each full year. If the period of employment is more than six months but less than one year, the compensation shall be calculated according to one year; if it is less than six months, the economic compensation shall be paid according to half a month's salary of the laborer. If the worker's monthly wage is more than three times the average monthly wage of the workers in the region for the previous year as announced by the people's government of the municipality directly under the central government or of the city that has a district in which the employer is located, the amount of economic compensation payable to the worker shall be equal to the amount of three times the average monthly wage of the workers, and the maximum number of years for which economic compensation shall be payable to the worker shall be up to a maximum of twelve years. The monthly salary referred to here is the average salary of the worker in the twelve months before the termination of the labor contract or termination of the labor contract.

1. Negotiated termination of the economic compensation = years of service × monthly salary (more than 12 years, according to the calculation of 12 years);

2. Termination of the economic compensation due to illness or non-induced injury = years of service × monthly salary + medical subsidies (not less than six months' salary, plus 50% for serious illnesses and 100% for terminal illnesses);

3. Unable to discharge economic compensation = years of service × monthly salary (more than 12 years, according to 12 years);

4. Objective changes in the economic compensation = years of service × monthly salary;

5. Economic retrenchment economic compensation = years of service × monthly salary;

6. Late payment of economic compensation = the original economic compensation + additional economic compensation ( 50% of the original economic compensation). 50% of the original economic compensation).

What needs to be clear is that, for the company shutdown led to the dismissal of employees, obviously not due to the existence of illegal behavior or violation of work discipline, so the employer needs to be in accordance with the prescribed standards to pay economic compensation, refused to pay compensation, the workers can legally apply for labor arbitration processing.

Legal basis:

The Chinese People's **** and the State Labor Contract Law Article 47 Economic compensation according to the number of years the worker has worked in the unit, pay one month's salary for each full year of work to the workers. If the period of employment is more than six months but less than one year, it shall be calculated as one year; if it is less than six months, the economic compensation shall be paid to the laborer in the amount of half a month's wages. If the worker's monthly wage is more than three times the average monthly wage of the workers in the region for the previous year as announced by the people's government of the municipality directly under the central government or of the city that has set up the district where the employer is located, the standard for paying him or her economic compensation shall be paid at the rate of three times the average monthly wage of the workers, and the maximum number of years for which economic compensation shall be paid to him or her shall be no more than twelve. The monthly wage referred to in this article refers to the average wage of the worker in the twelve months prior to the dissolution or termination of the labor contract.

Derivative questions:

What to do with workers' wages when a factory stops production

Workers' wages in an enterprise that stops production should be paid in accordance with the standard wages required by the contract. If the stoppage of work or production of the unit is not caused by the workers within a wage payment cycle, the employer shall pay the workers' wages according to the standard wages required by the labor contract. The debtor shall submit to the people's court a plan for the resettlement of the enterprise's workers and the payment of the workers' wages and the payment of social insurance costs if the debtor files a bankruptcy application; if the creditor files an application, the people's court shall submit the above information to the people's court within the statutory time limit after the people's court has served a ruling on the acceptance of the debtor.