Termination Letter, Non payment of Dues etc. - Help Required

Hi,
I would like to get opinions from experts in this forum regarding my situation.
Background:
My company is not doing well in a financial sense and they layoffs have become a routine thing. In fact we were paid our January 2009, salary late in February and I understand not every employee was paid.
In the second week of Feb, I was told that the company is in bad shape and I would have to give my resignation letter as soon as possible. I objected to this and informed the HR (all this are verbal commn.) that I won't be resigning, as that reduces my chances of getting a severance pay (which, by the way the HR was promising to anyone who resigned voluntarily). I also told them that I won't be doing my exit formalities (such as surrendering the ID card, Laptop etc..) till I get my Jan salary. The HR also informed that severance pay (which was equal to 2 months gross salary, for me) will not be paid the day I am terminated, but only on 31st March 2009. This is because the company is short of cash and is not in a position to pay the employees.

I got my salary around the third week of February and after that I told the HR that they can give me my termination letter. I informed the HR that they have to serve me a termination letter dated 23rd Feb, 2009 and not dated 31st Jan 2009 (which was what many other people were getting). I also asked them for my Feb salary to be included as part of my 'final settlement' or severance pay. The HR objected to this and I also relented considering the bad state of my company. So finally it was agreed (all verbally) that they will issue me a termination letter dated 23rd Feb, 2009 and also pay me 2 months gross salary as 'final settlement' on 31st March 2009.

What has happened:
1) The HR served me my termination letter on 2nd March 2009 (I had done my exit formalities by 25th Feb) and they changed many of the terms and conditions that were agreed upon were changed.

From my Termination Letter - "The company is liable to pay you 2 monthly gross salary in lieu of the 2 months notice period which shall be effective from 23.2.2009. In the event of you being employed elsewhere during the period 23.2.2009 to 22.4.2009, company will settle your account upto the date of the unemployment."

Kindly, let me know whether an employer can do such a thing. As far as I understand the employer is supposed to pay me regardless of my employment status.

2) From my Termination Letter - "The company will be settling your terminal benefits including the compensation towards notice period as mentioned herein along with other terminal benefits as applicable and entitled to you by end of April 2009"

Kindly let me know whether an employer is supposed to settle all the dues the day they terminate the services of an employee. I understand that there is no proof of the agreement that I had with the HR, as everything was verbal commn, and was based on trust.

3) From my Termination Letter - "The aforesaid represents the complete understanding between you and the 'company' and supersedes all previous communication, oral or written".
Does this statement have any legal standing? Does it also mean my offer letter (which has all the terms of my employment) stands null and void? Or it means that any communication regarding my termination before this letter stands void? Kindly advise.

I also would like to know whether resorting to a legal solution would be advisable? How good are my chances and how long will it take. Or will a legal notice, serve as a wake up call to the HR (who are trying to arm twist all gullible employees) and improve my chances of getting my dues?

Any help/pointers would be highly appreciated.

Regards
Ramesh

dear ramesh
the management given clause as in the event of you being employed elsewhere during during the period23/02/2009 to22/04/2009,company will settle your account upto date of your unemployment.
it is really useless clause and they have lack of knowledge of law and donot have general understanding also.if u will be unemployed for four months ,wll they pay for four months.
2.please note all dues to be paid to a person within 24hour of termination of services as per ID act 1947.
3.by writing one way communication does not have any legal standing
you are legally correct on all points.
tks
j s malik 9810557181