How to compensate the insolvent employees of the company?

Legal analysis: Bankruptcy property gives priority to paying off the wages, medical care, disability allowance and pension expenses owed by the bankrupt after paying off the bankruptcy expenses and the debts benefiting from * * *, and the basic old-age insurance and basic medical insurance expenses that should be credited to the employee's personal account, as well as the compensation that should be paid to the employee according to laws and administrative regulations. The economic compensation shall be based on the average salary of the employee in the previous 12 months, and the employee shall pay one month's salary for each year of working experience 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.

In addition, the wages, medical care, disability allowance and pension expenses owed by the company to employees, as well as the basic pension insurance and basic medical insurance expenses that should be included in employees' personal accounts, should also be paid off first in bankruptcy.

Legal basis: Article 113 of the Bankruptcy Law of People's Republic of China (PRC) stipulates that the bankrupt property shall be paid off in the following order after paying off the bankruptcy expenses and beneficial debts first: (1) The wages, medical care, disability allowance and pension expenses owed by the bankrupt to employees shall be included in the basic old-age insurance and basic medical insurance expenses of employees' personal accounts, as well as the compensation that should be paid to employees according to laws and administrative regulations; (2) Social insurance premiums and taxes owed by the bankrupt other than those specified in the preceding paragraph; (3) Ordinary bankruptcy claims. If the bankruptcy property is insufficient to pay off the repayment requirements in the same order, it shall be distributed in proportion. The wages of directors, supervisors and senior managers of bankrupt enterprises shall be calculated according to the average wages of employees of the enterprise.