What if the company forgets to retire a person at the age of 60 years, are there any risks..?.
From Japan, Urayasu
From Japan, Urayasu
Dear Hmverma, Whether your company is govt firm? If not, nothing to worry. Only thing is that you have to pay all benefits at par with the service for the age below 60 years. Abbas.P.S
From India, Bangalore
517From India, Bangalore
What If the requirement of retirement is in the standing orders ? Violation will make a difference ? In PF payment, the entire payment has to be made to PF account and nothing to the EPF
From India, Mumbai
From India, Mumbai
From the date of completion of 58 years to 60 years also, there will not be any pension contribution. Full remittance has to go to PF. Abbas.P.S
From India, Bangalore
From India, Bangalore
Dear Saswata Banerjee, If it is a Govt company, violation of rules will create problems. That is why I have asked whether it is a Govt firm or not. Abbas.P.S
From India, Bangalore
From India, Bangalore
Dear Verma,
In some states Shops and establishment Acts, the provisions of industrial standing orders Act and rules are read into whereby retirement age is prescribed at 58. Even it is crossed inadvetently yet the employee does not derive any right to continue. Pl refer to my replies on Retirement age-retirement policy in this web site.
From India, New Delhi
In some states Shops and establishment Acts, the provisions of industrial standing orders Act and rules are read into whereby retirement age is prescribed at 58. Even it is crossed inadvetently yet the employee does not derive any right to continue. Pl refer to my replies on Retirement age-retirement policy in this web site.
From India, New Delhi
If retirement age is mentioned in the certified standing orders, that will be final.The employee cannot be retired before that in the absence of any rule in contrary.If by any reason the employee continue in service beyond the retirement age in SO he should be paid his normal salary and other benefits with EPF(without pension fund after 58),ESI etc till you retires him and pay gratuity till the last day.
Varghese Mathew
From India, Thiruvananthapuram
Varghese Mathew
From India, Thiruvananthapuram
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Retirement Age Calculator 58 years.xls
Retirement Age Of Workmen Changed To Sixty Years.pdf