Dear Seniors,
Need your help on transfer query.
Actually one of the XYZ US company has bought 51% of our stakes (Say Company A) which has also bought stakes of other company in mumbai (Say B). Now they want to shift some of the staff from A to B company where the XYZ company is having 50% stake.
Can it be an internal transfer where we have to issue a transfer letter or it would be resigning from A and joining B freshly?
Please reply at the earliest.
From India, Pune
6Need your help on transfer query.
Actually one of the XYZ US company has bought 51% of our stakes (Say Company A) which has also bought stakes of other company in mumbai (Say B). Now they want to shift some of the staff from A to B company where the XYZ company is having 50% stake.
Can it be an internal transfer where we have to issue a transfer letter or it would be resigning from A and joining B freshly?
Please reply at the earliest.
From India, Pune
Hi ,
If the group is same and both the companies are termed as belonging to
the same group (ie : group companies) then transfer is possible.If the
other company is with different name and also not a group company
or sister concern in such case internal transfer is not possible....
Hope i am on the right track.
Regards
Rajeev Dixit
From India, Bangalore
If the group is same and both the companies are termed as belonging to
the same group (ie : group companies) then transfer is possible.If the
other company is with different name and also not a group company
or sister concern in such case internal transfer is not possible....
Hope i am on the right track.
Regards
Rajeev Dixit
From India, Bangalore
Hi
Agreeing with Mr. Rajeev suggested, there are some tricky problems while transferring the people from one group company to there in terms of the Statutory payments like PF Transfer, Gratuity.
Say a case where the employee has joined recently and contributing to PF. In some cases, we can ask them to withdraw their PF from the previous group company or ask them to transfer to new company. Please prepare the list of the people who have completed less than 6 months in the company because they will have to only transfer the PF and not withdraw.
Similarly, in case of Gratuity we have to transfer the gratuity from the existing company to the new company and we will have to ensure the proper transfer of the amount by keeping all necessary statutory authorities informed
A letter of transfer in this regard should be sent to the employees mentioining the reasons of Inter Company Transfer in brief and the same shall be filed in their personal files for record.
From India, Hyderabad
Agreeing with Mr. Rajeev suggested, there are some tricky problems while transferring the people from one group company to there in terms of the Statutory payments like PF Transfer, Gratuity.
Say a case where the employee has joined recently and contributing to PF. In some cases, we can ask them to withdraw their PF from the previous group company or ask them to transfer to new company. Please prepare the list of the people who have completed less than 6 months in the company because they will have to only transfer the PF and not withdraw.
Similarly, in case of Gratuity we have to transfer the gratuity from the existing company to the new company and we will have to ensure the proper transfer of the amount by keeping all necessary statutory authorities informed
A letter of transfer in this regard should be sent to the employees mentioining the reasons of Inter Company Transfer in brief and the same shall be filed in their personal files for record.
From India, Hyderabad
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PF Online Transfer.pdf
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