Article 44 of the Labor Contract Law

In any of the following circumstances, the labor contract shall be terminated:

(four) the employer is declared bankrupt according to law:

(5) The business license of the employing unit is revoked, ordered to close down or revoked, or the employing unit decides to dissolve in advance;

Article 46 of the Labor Contract Law is under any of the following circumstances, the employer shall pay economic compensation to the employee:

(6) The labor contract is terminated in accordance with the provisions of Item 4 and Item 5 of Article 44 of this Law;

Article 47 of the Labor Contract Law stipulates that the economic compensation shall be paid to the employee according to the standard that the employee pays one month's salary for every year of working in the 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 divided into 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.