Dear Sir/Madam,
Kindly let me know what happens to employees who have completed a tenure of 4-5 years in a partnership firm which later dissolves the company and forms a new private entity? what happens to the Gratuity benefit etc. of such old tenured employees?
From India, Mumbai
Kindly let me know what happens to employees who have completed a tenure of 4-5 years in a partnership firm which later dissolves the company and forms a new private entity? what happens to the Gratuity benefit etc. of such old tenured employees?
From India, Mumbai
421
Dear Sir, thank you for your valuable and expert advice. I am reconfirming the same, if the company name was named XYZ Co. (partnership firm) and now since 2013 it is known as XYZ Co. Pvt. Ltd. then will the gratuity benefit continue for the old employees?
Thanking you.
From India, Mumbai
Thanking you.
From India, Mumbai
There is a procedure laid dwon for converting partnership into private limited company.
IF the procedure is followed and all assets and liabilities are transferred from partnership to company,then gratuity can be claimed.
Procedure for Conversion of Partnership firm into company
But if the partners want to evade responsibility towards gratuity loopholes are there.
From India, Pune
IF the procedure is followed and all assets and liabilities are transferred from partnership to company,then gratuity can be claimed.
Procedure for Conversion of Partnership firm into company
But if the partners want to evade responsibility towards gratuity loopholes are there.
From India, Pune
Gratuity is payable only if an employee completes 5 years of service. Once an employee has become eligible for gratuity then the liability will continuem whether it becomes a Pvt Ltd company on a later stage. Even if the name is changed there are chances that the employee can claim.
From India, Bangalore
From India, Bangalore
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