I am working for a telecom Company for almost 5 years now. Will be completing 5 years on 27th December 2017.
Now my company HR has approached me and told me that due to mandate given by the head office, they want to reduce head count and asked me to move from the company payroll to third party pay roll but work for same company. I told them that effectively they are removing or terminating my employment but HR is not accepting. They are offering same salary but asked me to resign on my own and start working with then on third party on contract.
I want to know if there is any legal clause or law in India which enables me to take this up with my employer and whether I am entitled to any compensation in such case.
Please check my case and let me know if need more information on it.