What is mean by Retrenchment/Terminated compensation as per industries act for a worker?
The Industrial Dispute Act uses the term “retrenchment” instead of “termination”. Retrenchment is defined as termination for any reason except as punishment inflicted by way of disciplinary action, retirement/superannuation, termination for continued ill-health, or expiry and non-renewal of the term of an employment contract.
This article might be of help here.
RETRENCHMENT UNDER THE INDUSTRIAL DISPUTES ACT, 1947 • Retrenchment means the discharge of surplus labour or staff by the employer for any reason whatsoever, otherwise than by way of punishment inflicted as a measure of disciplinary action.
I hope this definition will help you.