*An employee shall retire from the service of the company on attaining the age of 58 Years.* - What is a meaning of this?
(1)Does it means day of retirement shall be the last day of completing 57 years i.e. one day day prior to birthday when 57 years are completed & on next day 58 year shall start?
Or
(2)It shall be last day of completing 58 years ? And on next day 59 year will start?
Which option of above is legally correct?
From India
(1)Does it means day of retirement shall be the last day of completing 57 years i.e. one day day prior to birthday when 57 years are completed & on next day 58 year shall start?
Or
(2)It shall be last day of completing 58 years ? And on next day 59 year will start?
Which option of above is legally correct?
From India
Hi,
Strictly speaking completed age should be taken into consideration and accordingly the last day of 58 years should be official retirement date. Also please note that retirement age differ from Organisation to Organisation and mostly the common practice is following the retirement age criteria mentioned per their service rules or Standing Order.
From India, Madras
941Strictly speaking completed age should be taken into consideration and accordingly the last day of 58 years should be official retirement date. Also please note that retirement age differ from Organisation to Organisation and mostly the common practice is following the retirement age criteria mentioned per their service rules or Standing Order.
From India, Madras
Your queries are answered below at seriatim:
(1) It means the day of retirement shall be the last day of completing 57 years as the Rules state that "An employee shall retire from the service of the company on attaining the age of 58 Years". It is not stating that the employee shall retire on completion of 58 years of age. Indeed the day day prior to 58th birthday 57 years are completed and thereafter the employee is 58 years + 1,23, .. days of physical existence. This is the accepted methodology for calculating age. There is sea of difference between "ättaining" and "completing" 58 years.
(2)The quoted Rules are not implying that the retirement shall be on completing 58 years.
From India, Mumbai
(1) It means the day of retirement shall be the last day of completing 57 years as the Rules state that "An employee shall retire from the service of the company on attaining the age of 58 Years". It is not stating that the employee shall retire on completion of 58 years of age. Indeed the day day prior to 58th birthday 57 years are completed and thereafter the employee is 58 years + 1,23, .. days of physical existence. This is the accepted methodology for calculating age. There is sea of difference between "ättaining" and "completing" 58 years.
(2)The quoted Rules are not implying that the retirement shall be on completing 58 years.
From India, Mumbai
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Employee Appraisal Form new.doc