Hi, I am presently working in a Pvt Hospital in the East as HR Manager. I have some employees who have been working here for the last 25 years, and in their appointment letter, their retirement age is mentioned as 55 years. Can I fix the retirement age in this institution as 55 years for all employees, as opposed to the PF Act which requires the superannuation age for the Pension scheme to be 58 years? Regards, Madhumita
From India, Guwahati
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1From India, Guwahati
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Dear Madhuji,
Usually, the age limit for retirement in private firms is 58 years because the Provident Fund (PF) also sets the superannuation age around that range. If the management is willing to continue his services, they can be designated as a 'Retainer.'
Regards,
PBS KUMAR
From India, Kakinada
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Usually, the age limit for retirement in private firms is 58 years because the Provident Fund (PF) also sets the superannuation age around that range. If the management is willing to continue his services, they can be designated as a 'Retainer.'
Regards,
PBS KUMAR
From India, Kakinada
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Employee Benefits.doc
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