Employer forcing me to resign

Dear Lawers, I am currently working as a Senior Project Engineer in an UK based MNC in Chennai. I have been in this employer for the last 8 years. I am having 9.5 years of experience in total. Total employees in India is only 4 including my indian boss. This month my boss informed us that the top management in UK has decided to close the business here in India and they have decided to close the office in chrnnai too.But they have said that the company will exist in future. There is no notice period mentioned in my employment agreement. And my indian boss forcing/pressurizing me to resign within this month. He has offered me this month and March month salary for me. After that I will not get my salary. I have clearly informed him that I will not resign and I can't get an another job within March end. I have informed him that I need a support from UK till I get an another job. He asked me directly how much compensation I am expecting from employer. I don't have any idea about compensation and I need your advise. I have been loyal to the employer for the last 8 years and I am expecting the same loyalty from my employer. I have a huge family members and all are depend on my income only. I have searched in the Internet about retrenchment law and not getting the clear idea. I am in a tremendous pressure from my boss and he is in so hurry to spoil my career and he wants my decision within this week. Please advise me further. Thanks