Indian Polity · Polity

A manufacturing firm with 450 workers plans workforce restructuring under the Industrial Relations Code, 2020. Consider the following statements: 1. Industrial establishments employing 300 or more workers must seek prior government permission before lay-off, retrenchment, or closure. 2. The threshold of 300 workers may be modified upward by the appropriate government through notification. 3. Compensation payable to a retrenched worker is equivalent to 15 days' average pay for every completed year of continuous service. 4. Prior permission provisions apply uniformly to all establishments, including seasonal and intermittent establishments. Which of the above statements are correct?