1) What is the Difference between Superannuation and Retirement?
2) Can a superannuated person be legally eligible for continuous employment without any break till the age of 60 or 70 as long as he can continue?
From India, Chennai
2) Can a superannuated person be legally eligible for continuous employment without any break till the age of 60 or 70 as long as he can continue?
From India, Chennai
Superannuation is the age as fixed by thee establishment till an employee shall be in the service of that establishment. Retirement is the date on which an employee shall exit from the service which can be earlier to the age of superannuation. Since the employee employer relationship is terminated on attaining the age of superannuation, a separate contract of employment is required to continue superannuation. There is no compulsion that a superannuated employee should not continue in service but he can continue in service with the same service conditions as he was covered prior to the superannuation but with a separate order governing the same.
From India, Kannur
4249From India, Kannur
Thank you for your detailed analysis reply.
If Superannuation is as per employement contract, why PPF is considering, 58yrs as superannuation period and stop accepting /payment of Pension contributions from 58yrs. Any specific relevance.
From India, Chennai
If Superannuation is as per employement contract, why PPF is considering, 58yrs as superannuation period and stop accepting /payment of Pension contributions from 58yrs. Any specific relevance.
From India, Chennai
For different schemes different age has been fixed by law. For EPF (not PPF) the age for receiving pension is 58 irrespective of the superannuation age of the company. In the absence of a common age, it will be difficult for the EPF Organisation to disburse pension which will differ for different companies. The EPF and MP Act does ot say that you should not employ a person aged 58 but you can employ or continue to employ a person aged 58 as per the company policy. EPF being a common scheme applicable to all establishment it is always good to have a common age for disbursement of pension. That's all.
From India, Kannur
From India, Kannur
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