Regarding retirement day, Respected sir I have a query on the day of the retirement. For example, if an employee turns 60 on 6th June what date he should be relieved from the services considering 60 as retirement age. Will it be 5th June or 30th June?
From India, Bangalore
2From India, Bangalore
Please throw more light about your company and your role in your company, for the benefit of our senior members.
From India, Aizawl
From India, Aizawl
As per calculation it should be 5th June (After completion of business hours) if the DOB is 6th June. But many organizations have culture to retire at the last date of the month if the DOB is 02nd of a month to 1st of the following month.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
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From India, New Delhi
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
As the employee turns in to 60 on 6th Jun then the effective date of retirement would be 7th June. If you execute retirement on 5th / 6th June that will fall short of retirement age for 1 or 2 days. In this situation, the incumbent may go for legal steps against the Company. If your management wants to avoid to pay fractional payment to the incumbent, then you may choose to effect the retirement from the First day of July that would be treated as humanitarian ground.
Regards,
Md. Ariful Islam
HR Professional
Pharmaceutical Industries, Bangladesh
From Bangladesh, Dhaka
Regards,
Md. Ariful Islam
HR Professional
Pharmaceutical Industries, Bangladesh
From Bangladesh, Dhaka
Normally an employee will retire on the last day of the pay month. This has been a practice for various companies over so many years. As such if the retirement age is reached on 6th of June, he will be in service till 30th June.
From India, Kannur
From India, Kannur
Dear Mr. Md. Ariful Islam,
I would like to mention that if some one's birthday on 6th June , the person will complete one year on 5th June considering both the days. On any birthday, the person is always one year one day not one year.
Therefore, the calculation you have shown is not appropriate. Please check it once again and if possible with expert.
Arithmetically and legally it is correct whatever I have posted in my earlier post and present post.
Thanks & Regards,
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
I would like to mention that if some one's birthday on 6th June , the person will complete one year on 5th June considering both the days. On any birthday, the person is always one year one day not one year.
Therefore, the calculation you have shown is not appropriate. Please check it once again and if possible with expert.
Arithmetically and legally it is correct whatever I have posted in my earlier post and present post.
Thanks & Regards,
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
The illustration given by Mr.S K Bandyopadhyay , is perfectly correct arithmetically. However, view expressed by Mr. Madhu, is a standard practice followed in many companies.
I would also like to mention here, few big companies go a step further. For example, one of the leading Auto majors in India and now an MNC company, have a system of retirement dates, as the last date of every quarter, viz 31st March, 30th June, 30th Sept, and 31st Dec every year. Those staff whose retirement age falls between 1st Jan - 31st March, shall be retiring from service on 31st March and likewise in remaining 3 quarters.
From India, Aizawl
I would also like to mention here, few big companies go a step further. For example, one of the leading Auto majors in India and now an MNC company, have a system of retirement dates, as the last date of every quarter, viz 31st March, 30th June, 30th Sept, and 31st Dec every year. Those staff whose retirement age falls between 1st Jan - 31st March, shall be retiring from service on 31st March and likewise in remaining 3 quarters.
From India, Aizawl
As per gerenal HR practice, Last day of paymonth/paycycle will be retirement day of individual’s either he serve one day or whole period.
From India, Gurgaon
From India, Gurgaon
For the teaching staff in schools and colleges, the retirement date is even extended till the academic year ends. Therefore, if the date of actual retirement of a teacher in a school aided by the government (in Kerala) is June or July, he will be relieved only on 31st March of the following year.
From India, Kannur
From India, Kannur
Deferring the relieving date to the end of the month/quarter or academic session is only a matter of convenience, as in large organisations it would be a retirement day every now and then.
As regards the query, it is necessary that the organisation lays down a clear-cut policy in this regard. The options are already discussed in the earlier responses
From India, Mumbai
As regards the query, it is necessary that the organisation lays down a clear-cut policy in this regard. The options are already discussed in the earlier responses
From India, Mumbai
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