First off, I’m sorry to hear about your layoff. In situations like this, it’s important to know your rights. Even though the company claims that labor laws don’t apply to the software industry, that’s not entirely correct. In India, the Industrial Disputes Act covers situations of retrenchment, which includes layoffs. Severance pay is typically due when someone is laid off, as long as it’s not due to misconduct.
Since they’re offering you a paid notice period, that’s a good sign, but you should definitely ask for confirmation in writing about the terms—specifically if the layoff is considered “retrenchment.” If it is, they should be paying you severance, which is typically 15 days of wages for every completed year of service.
You might want to consult a **labour lawyer** to get a clearer understanding of whether they are legally required to pay severance in your case.