Hi all,
After finishing college, I have been working in a small software company for 1 year and 9 months, located in Chennai. Today, my Managing Director suddenly informed me that due to project requirements, I will be transferred to another company as an employee with a pay raise, and I will receive the transfer offer letter from the new company tomorrow.
What are all the things I need to know? What are all the things I need to ask the new and old employer?
Thanks.
From India, Mumbai
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1After finishing college, I have been working in a small software company for 1 year and 9 months, located in Chennai. Today, my Managing Director suddenly informed me that due to project requirements, I will be transferred to another company as an employee with a pay raise, and I will receive the transfer offer letter from the new company tomorrow.
What are all the things I need to know? What are all the things I need to ask the new and old employer?
Thanks.
From India, Mumbai
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Hi,
Some questions for you to ask:
1) Where is the new company based? Is it a sister company or a branch?
2) If a sister company or branch, then check about PF continuity benefit; otherwise, they will start a new PF account for you.
3) Find out about accommodation - is it being provided? If not, what will it cost? Will your new salary hike be sufficient to manage this additional cost? Remember you will now have to pay for the expenses of two houses.
4) If it is a new company, it cannot be a transfer - it would be new employment. So, find out about that organization from the market.
5) After looking at the new expenses and new CTC, check if your take-home salary increases or decreases.
That's all I can think of at this moment. Hope it helps.
Ryan
From India, Mumbai
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Some questions for you to ask:
1) Where is the new company based? Is it a sister company or a branch?
2) If a sister company or branch, then check about PF continuity benefit; otherwise, they will start a new PF account for you.
3) Find out about accommodation - is it being provided? If not, what will it cost? Will your new salary hike be sufficient to manage this additional cost? Remember you will now have to pay for the expenses of two houses.
4) If it is a new company, it cannot be a transfer - it would be new employment. So, find out about that organization from the market.
5) After looking at the new expenses and new CTC, check if your take-home salary increases or decreases.
That's all I can think of at this moment. Hope it helps.
Ryan
From India, Mumbai
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Thanks for the reply, Ryan.
Yes, it is a sister company and it is also in Chennai, but compared with the old company, the travel distance is more. The new company told me that "Your experience with the old company will carry over with us."
I was getting 2.4 lac, and now I am going to get 3.6 lac per annum. (It's a very high hike. I am happy and also a little afraid).
From India, Mumbai
Acknowledge(0)Amend(0)
Yes, it is a sister company and it is also in Chennai, but compared with the old company, the travel distance is more. The new company told me that "Your experience with the old company will carry over with us."
I was getting 2.4 lac, and now I am going to get 3.6 lac per annum. (It's a very high hike. I am happy and also a little afraid).
From India, Mumbai
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