How to compensate employees for the collapse of property companies

If the property management company closes down, it shall compensate the employees for the termination of the contract according to the regulations, and pay economic compensation to the employees according to the standard of paying one month's salary every full year. For more than six months but less than one year, it shall be counted as one year; If it is less than six months, economic compensation of half a month's salary shall be paid to the workers. Article 47 of the Labor Contract Law of People's Republic of China (PRC) 02 Calculation of Economic Compensation: The employee shall be paid economic compensation according to the standard of one month's salary every year after working in this unit. For more than six months but less than one year, it shall be counted as one year; If it is less than six months, economic compensation of half a month's salary shall be paid to the workers. If the monthly salary of workers is three times higher than the average monthly salary of local workers announced by the people's government of the municipality directly under the central government or the city with districts where the employer is located, the standard for paying economic compensation to workers is three times the average monthly salary of workers, and the longest period for paying economic compensation to workers shall not exceed 12 years. The monthly salary mentioned in this article refers to the average salary of workers in the twelve months before the dissolution or termination of the labor contract.