Does anyone know what happens to employees wages after a business goes bankrupt

After the bankruptcy of the enterprise, what should the employees of the enterprise go and what rights and interests can they obtain? First of all, Article 46 (4) of the Labor Contract Law of the People's Republic of China stipulates that if an employer declares bankruptcy in accordance with the law, it shall pay economic compensation to the employee. Secondly, according to Article 47 of the Labor Contract Law of the People's Republic of China, severance compensation shall be paid to the employee according to the number of years of service in the employer, and the standard of one month's salary for each full year. where it is more than six months but less than one year, it is calculated as one year; If it is less than six months, the employee shall be paid half a month's salary as economic compensation, but the maximum period for which the economic compensation shall be paid shall not exceed 12 years, and the wage standard referred to in this Law shall be the average salary of the employee in the 12 months prior to the termination or termination of the labor contract.

Finally, even if an enterprise goes bankrupt, it should pay the wages owed to the employees, medical treatment, disability allowances, and bereavement expenses, and the basic endowment insurance and basic medical insurance expenses owed to the employees' personal accounts. Legal basis: Article 47 of the Labor Contract Law of the People's Republic of China [Calculation of Economic Compensation] Economic compensation shall be paid to the employee according to the standard of one month's salary for each full year of the employee's service in the unit.

where it is more than six months but less than one year, it is calculated as one year; If it is less than six months, the worker shall be paid half a month's salary. If the monthly wage of a worker is three times higher than the average monthly wage of the employee in the previous year announced by the people of the municipality directly under the Central Government or the city divided into districts where the employer is located, the standard of severance shall be paid to him at the rate of three times the average monthly wage of the employee, and the maximum period of payment of severance shall not exceed 12 years. The term "monthly wage" mentioned in this article refers to the average salary of an employee in the 12 months prior to the termination or dissolution of the labor contract.

Follow the process! After liquidation, or after the acquisition, it will go to the employee salary compensation link! (Provided that there are still funds left!) ）

After the enterprise is ruled to enter bankruptcy proceedings, the bankruptcy assignee shall liquidate the creditor's rights and debts, compile a list of assets, and the property of the enterprise shall first pay the bankruptcy liquidation expenses, and then pay the employees' wages and social security and tax arrears. The rest will be repaid to creditors.

Legal Analysis: The company goes bankrupt and the employee's salary is paid off by the bankruptcy estate.

Legal basis: Enterprise Bankruptcy Law of the People's Republic of China Article 113 After the bankruptcy expenses and common debts are paid off first, the bankruptcy property shall be paid off in the following order:

1) The wages, medical treatment, disability allowance and bereavement expenses owed to the employees by the bankrupt and blind workers, the basic endowment insurance and basic medical insurance expenses that shall be transferred to the personal accounts of the employees, and the compensation that shall be paid to the employees according to laws and administrative regulations;

2) Social insurance premiums owed by the bankrupt person other than those provided for in the preceding paragraph and taxes owed by the bankrupt person;

3) Ordinary bankruptcy claims.

If the bankruptcy estate is insufficient to satisfy the claims in the same order, it shall be distributed proportionately.

The salaries of directors, supervisors and senior managers of a bankrupt enterprise shall be calculated on the basis of the average wages of the employees of the enterprise.

Legal Analysis: If the company goes bankrupt, what is the compensation standard for employees? In addition to the arrears of wages, the company shall pay the compensation to the employees, as well as the wages of the employees, medical treatment, disability allowance and bereavement expenses, the basic endowment insurance and medical insurance expenses that should be transferred to the personal accounts of the employees, and the compensation that shall be paid to the employees according to laws and administrative regulations.

Legal basis: Article 48 of the Enterprise Bankruptcy Law of the People's Republic of China The creditor shall declare the creditor's rights to the administrator within the time limit determined by the people's court for the declaration of creditor's rights. The wages, medical treatment, disability allowance and bereavement expenses owed by the debtor to the employees, the basic old-age insurance and basic medical insurance expenses that should be transferred to the employees' personal accounts, and the compensation that should be paid to the employees according to laws and administrative regulations do not need to be declared, and the managers shall make a list and publicize them after investigation.

If employees have objections to the list records, they may request that the manager make corrections; If the manager refuses to make corrections, the employee Qiaoxiao may file a lawsuit with the people's court.