Dear All Concerned,
We are in the process of acquiring a company.
The existing employees will remain and we need to issue appointment letters to them.
To my knowledge this letter would be an addendum to appointment.
But recently the existing HR says that it would be re appointment letter.
Would like your valueable input on the same.
If possible please send a draft copy of the letter.
Regards
A Mukherjee.
From India, Calcutta
1We are in the process of acquiring a company.
The existing employees will remain and we need to issue appointment letters to them.
To my knowledge this letter would be an addendum to appointment.
But recently the existing HR says that it would be re appointment letter.
Would like your valueable input on the same.
If possible please send a draft copy of the letter.
Regards
A Mukherjee.
From India, Calcutta
Dear Sh Mukherjee,
Before a proper reply is given to your query,you need to clarify the following:-
(i) whether you are winding up your present company or it still remains in existence?
(ii) whether new company will have a separate identity or it will amalgamate with your present company?
However, it will not be proper to issue re-appointment letter, which may create discontentment amongst the present employees because by doing so they are sure to loose many benefits.
BS Kalsi
Member since Aug 2011
From India, Mumbai
Before a proper reply is given to your query,you need to clarify the following:-
(i) whether you are winding up your present company or it still remains in existence?
(ii) whether new company will have a separate identity or it will amalgamate with your present company?
However, it will not be proper to issue re-appointment letter, which may create discontentment amongst the present employees because by doing so they are sure to loose many benefits.
BS Kalsi
Member since Aug 2011
From India, Mumbai
Dear Mr Kalsi,
Company X Company Y are totally different entities.
The Company X filled for BIFR.
Company Y submitted the tender for acquisition of a division of Company X and is now accepted by BIFR.
Even after the acquisition of the division of Company X by Company Y, Company X will carry on with its operation with other divisions.
The New Company Y is a SPV floated by the Parent Company which belongs to a different state.
Hope i have been able to clarify all your points.
Hope to get a clear picture now.
Regards
A Mukherjee
From India, Calcutta
Company X Company Y are totally different entities.
The Company X filled for BIFR.
Company Y submitted the tender for acquisition of a division of Company X and is now accepted by BIFR.
Even after the acquisition of the division of Company X by Company Y, Company X will carry on with its operation with other divisions.
The New Company Y is a SPV floated by the Parent Company which belongs to a different state.
Hope i have been able to clarify all your points.
Hope to get a clear picture now.
Regards
A Mukherjee
From India, Calcutta
The new Co & the old entity should have an agreement with unions ( if any )of the old Co If you are taking all the employees ,have a cl in the agreement that all employees with all their existing benefits and previous service will be protected.Issue a letter to all the employees absorbing them to the services of new entity with continuity of services etc.
9961266966
From India, Thiruvananthapuram
9961266966
From India, Thiruvananthapuram
Since this is a BIFR case, there will be terms specified on which the business is acquired and how the existing workers are to be taken, whether they get the benefits carried forward, etc. So you need to act according to the conditions specified by BIFR or in the acquisition agreement.
If you are required to carry forward the previous employment benefits, then it must be mentioned clearly in the new appointment letter given that vide xyz order of the BIFR / Court, the employee will be entitled to benefits as below, or that they will be considered to be working for this company from the date of joining the new company, etc
From India, Mumbai
If you are required to carry forward the previous employment benefits, then it must be mentioned clearly in the new appointment letter given that vide xyz order of the BIFR / Court, the employee will be entitled to benefits as below, or that they will be considered to be working for this company from the date of joining the new company, etc
From India, Mumbai
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Appointment Letter to an Employee for fixed period.doc