Dr. PBS KUMAR ji,
With due respect to you sir, I would like submit as under:
You said that the person is eligible for PF only (since he is having UAN number continuing in the same place).
Whereas in my post bearing #8 above I said, he is exempted employee under EPF.
I used the terminology as exempted employee mistakenly instead of excluded employee.
I herewith produce the para 2(f) (i)of the EPF Scheme verbatim for your kind reference:
(f) “excluded employee” mean—
(i) an employee who, having been a member of the Fund, withdrew
the full amount of his accumulations in the Fund under clause (a) or
(c) of sub-paragraph (1) of paragraph 69.
Hope I am not wrong in answering in post bearing #8 above.
From India, Mumbai
2556With due respect to you sir, I would like submit as under:
You said that the person is eligible for PF only (since he is having UAN number continuing in the same place).
Whereas in my post bearing #8 above I said, he is exempted employee under EPF.
I used the terminology as exempted employee mistakenly instead of excluded employee.
I herewith produce the para 2(f) (i)of the EPF Scheme verbatim for your kind reference:
(f) “excluded employee” mean—
(i) an employee who, having been a member of the Fund, withdrew
the full amount of his accumulations in the Fund under clause (a) or
(c) of sub-paragraph (1) of paragraph 69.
Hope I am not wrong in answering in post bearing #8 above.
From India, Mumbai
I have same case in my organisation. One of our Accounts Asst. Retd after completing 9 years of service and completing 60 years of age.
His take home salary at retirement was 16000 pm
What amount of gratuity is to be paid.?
Also, if my company decides, Is it possible to take his services further as a consultant and pay him consultation fees after deducting applicable TDS on payable amount?
Will there be any objection from PF or ESIC?
From India, Aurangabad
His take home salary at retirement was 16000 pm
What amount of gratuity is to be paid.?
Also, if my company decides, Is it possible to take his services further as a consultant and pay him consultation fees after deducting applicable TDS on payable amount?
Will there be any objection from PF or ESIC?
From India, Aurangabad
We have practice /system to engage retired person based on the requirements. After management approvals, we use to extend his service for 2 years by issuing fix period appointment order. While fixing his remuneration the statutory benefits like PF, Gratuity etc amounts calculated on his last drawn salary and considered in consolidated salary. Only Prof. Tax and TDS is deducted.
Only the question is after retirement, since the person was the PF member, is it statutory on part of employer to deduct PF contribution and remit the same to his individual PF account ?
Shikh.I.Y.
Manager HR.
From India, Nashik
Only the question is after retirement, since the person was the PF member, is it statutory on part of employer to deduct PF contribution and remit the same to his individual PF account ?
Shikh.I.Y.
Manager HR.
From India, Nashik
When an employee is retired from his service at the age of 58 or 60 he can be re-appointed on the basis of Fixed Term Employment(FTE) for certain period of time ( say for one year or two year).
His regular employment with the organization should comes to and end by giving formal retirement.
Following steps are to be taken for this purpose.
1. Do full and final settlement by paying all the dues and retirement benefits to the concerned employee.
2.Give new appointment letter on the basis of FTE by mentioning new remuneration which should be mutually agreed upon.This remuneration should be determined by considering MW act, Bonus act, Gratuity act etc.
3. Clearly mention all the terms and conditions, remunerations, leaves and other benefits on the appointment letter .
4.Since the retired employee has attained 58 yrs age, he is not eligible for pension benefit under Employees provident Fund. Therefore PF coverage or contributions not applicable.
5. After completion of FTE, the same employee can be retained by the organization on FTE basis by executing new FTE and agreement.
6.Physical fitness ( health) , mental alertness of the concerned employee must be checked up.
From India, Mumbai
His regular employment with the organization should comes to and end by giving formal retirement.
Following steps are to be taken for this purpose.
1. Do full and final settlement by paying all the dues and retirement benefits to the concerned employee.
2.Give new appointment letter on the basis of FTE by mentioning new remuneration which should be mutually agreed upon.This remuneration should be determined by considering MW act, Bonus act, Gratuity act etc.
3. Clearly mention all the terms and conditions, remunerations, leaves and other benefits on the appointment letter .
4.Since the retired employee has attained 58 yrs age, he is not eligible for pension benefit under Employees provident Fund. Therefore PF coverage or contributions not applicable.
5. After completion of FTE, the same employee can be retained by the organization on FTE basis by executing new FTE and agreement.
6.Physical fitness ( health) , mental alertness of the concerned employee must be checked up.
From India, Mumbai
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