Thank you, TSK Raman - that was very useful. As I work in a school, often when we struggle to find good qualified teachers, at times we invite retired teachers to come on part-time. It is very facilitative as they already know the system, and in fact, act as informal mentors - by their own choice!! Everyone seems happy with the arrangement.
From India, Mumbai
Acknowledge(0)
Amend(0)
2From India, Mumbai
Acknowledge(0)Amend(0)
Hi Manpreet Will send it to your by EOD to your gmail Id .....
From United Kingdom, London
Acknowledge(0)Amend(0)
From United Kingdom, London
Acknowledge(0)Amend(0)
Dear Manpreet,
As best said by Shri T.K. Raman, having a man with good values is a must for progress. The term veteran is an understatement; they will help the company progress in all aspects through observation. Leaps and bounds can be crossed with ease, and real progress can be achieved if a valued veteran is brought in.
Since you have mentioned the retirement age as 58, it is hoped that they are retired government employees who have, in many cases, helped institutions progress in all aspects.
The terms of perks can be established with due respect and honor. There should be no restrictions in providing good benefits. TDS should be deducted at the source rather than calculated afterwards. Additionally, the annual lump sum or consolidated amount can be determined to reflect their value and commitment. Everything depends on the requirements.
Thank you.
From India, Arcot
Acknowledge(0)Amend(0)
As best said by Shri T.K. Raman, having a man with good values is a must for progress. The term veteran is an understatement; they will help the company progress in all aspects through observation. Leaps and bounds can be crossed with ease, and real progress can be achieved if a valued veteran is brought in.
Since you have mentioned the retirement age as 58, it is hoped that they are retired government employees who have, in many cases, helped institutions progress in all aspects.
The terms of perks can be established with due respect and honor. There should be no restrictions in providing good benefits. TDS should be deducted at the source rather than calculated afterwards. Additionally, the annual lump sum or consolidated amount can be determined to reflect their value and commitment. Everything depends on the requirements.
Thank you.
From India, Arcot
Acknowledge(0)Amend(0)
I suggest keeping the retired professional on a contract basis. Keeping them as a consultant means you have to deduct 10% of their pay/fee as TDS, and they will lose a good chunk of earnings as the refund after IT return filing is onerous on them.
On a contract basis, you can also cover them under PF (the EPS portion is not applicable to them). Leaves may be decided as per your company policies.
Pon
From India, Lucknow
Acknowledge(0)Amend(0)
On a contract basis, you can also cover them under PF (the EPS portion is not applicable to them). Leaves may be decided as per your company policies.
Pon
From India, Lucknow
Acknowledge(0)Amend(0)
Dear Mr. Pon1965,
I am engaged as a Consultant (not an employee), and I find the 10% TDS much more beneficial. EPF, etc., are out of the question. You can get an engagement letter; it needn't be a contract, with the arrangement of one month's notice either way. This system has been working pretty perfectly. Not only for retired people, but there are also some consultants who prefer an arrangement of receiving a consulting fee of Rs. 'x' annually and Rs. 'x/12 - 10% TDS.'
Regards, TSK. Raman
From India, Hyderabad
Acknowledge(0)Amend(0)
I am engaged as a Consultant (not an employee), and I find the 10% TDS much more beneficial. EPF, etc., are out of the question. You can get an engagement letter; it needn't be a contract, with the arrangement of one month's notice either way. This system has been working pretty perfectly. Not only for retired people, but there are also some consultants who prefer an arrangement of receiving a consulting fee of Rs. 'x' annually and Rs. 'x/12 - 10% TDS.'
Regards, TSK. Raman
From India, Hyderabad
Acknowledge(0)Amend(0)
Dear Mr. Bernard Butty,
With due respect to you, I am unable to link your response to the subject under discussion - Work after retirement age 58 years, unless you are suggesting that if any retired professional wants to be an entrepreneur, and that you are offering services that they could consider.
Your response will be highly appreciated.
Warm regards,
TSK. Raman
From India, Hyderabad
Acknowledge(0)Amend(0)
With due respect to you, I am unable to link your response to the subject under discussion - Work after retirement age 58 years, unless you are suggesting that if any retired professional wants to be an entrepreneur, and that you are offering services that they could consider.
Your response will be highly appreciated.
Warm regards,
TSK. Raman
From India, Hyderabad
Acknowledge(0)Amend(0)
Senior staff can continue their work subject to the HR policy regarding promotion and seniority. Salary is mutual, as it is what motivates individuals to work. However, a senior person who extends their service cannot claim a promotion or salary hike in the future.
Regards,
Ravigi
From India, Calcutta
Acknowledge(0)Amend(0)
Regards,
Ravigi
From India, Calcutta
Acknowledge(0)Amend(0)
Dear AS_Ravi,
I would like to seek clarification with all the humility and ignorance I can summon. I fail to understand what this means as a response: "Hi, would appreciate if you could provide a copy of your EOD for my reference/use. Thanks in advance. Regards, Ravi." For most like me, EOD = End Of Day. What does this mean in your parlance?
Thank you.
From India, Hyderabad
Acknowledge(0)Amend(0)
I would like to seek clarification with all the humility and ignorance I can summon. I fail to understand what this means as a response: "Hi, would appreciate if you could provide a copy of your EOD for my reference/use. Thanks in advance. Regards, Ravi." For most like me, EOD = End Of Day. What does this mean in your parlance?
Thank you.
From India, Hyderabad
Acknowledge(0)Amend(0)
Dear AS_Ravi,
I would like to seek clarification with all the humility and ignorance I can summon. I fail to understand what this means as a response: "Hi, would appreciate if you could provide a copy of your EOD for my reference/use. Thanks in advance. Regards, Ravi."
For whom is this meant, and for most like me, EOD = End Of Day. What does this mean in your parlance.
Thank you.
From India, Hyderabad
Acknowledge(0)Amend(0)
I would like to seek clarification with all the humility and ignorance I can summon. I fail to understand what this means as a response: "Hi, would appreciate if you could provide a copy of your EOD for my reference/use. Thanks in advance. Regards, Ravi."
For whom is this meant, and for most like me, EOD = End Of Day. What does this mean in your parlance.
Thank you.
From India, Hyderabad
Acknowledge(0)Amend(0)Engage with peers to discuss and resolve work and business challenges collaboratively - share and document your knowledge. Our AI-powered platform, features real-time fact-checking, peer reviews, and an extensive historical knowledge base. - Join & Be Part Of Our Community.
Extension of retirement age of teachers in Maharashtra 25.2.2011.pdf
Cross tabulation for work experience and age.docx
Retirement Age Calculator 58 years.xls