What if the company forgets to retire a person at the age of 60 years, are there any risks..?.
From Japan, Urayasu
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From Japan, Urayasu
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Dear Hmverma, Whether your company is govt firm? If not, nothing to worry. Only thing is that you have to pay all benefits at par with the service for the age below 60 years. Abbas.P.S
From India, Bangalore
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552From India, Bangalore
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What If the requirement of retirement is in the standing orders ? Violation will make a difference ? In PF payment, the entire payment has to be made to PF account and nothing to the EPF
From India, Mumbai
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From India, Mumbai
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From the date of completion of 58 years to 60 years also, there will not be any pension contribution. Full remittance has to go to PF. Abbas.P.S
From India, Bangalore
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From India, Bangalore
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Dear Saswata Banerjee, If it is a Govt company, violation of rules will create problems. That is why I have asked whether it is a Govt firm or not. Abbas.P.S
From India, Bangalore
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From India, Bangalore
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Dear Verma,
In some states, Shops and Establishment Acts, the provisions of the Industrial Standing Orders Act and rules are read into whereby the retirement age is prescribed at 58. Even if it is crossed inadvertently, the employee does not derive any right to continue. Please refer to my replies on retirement age and retirement policy on this website.
Thank you.
From India, New Delhi
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In some states, Shops and Establishment Acts, the provisions of the Industrial Standing Orders Act and rules are read into whereby the retirement age is prescribed at 58. Even if it is crossed inadvertently, the employee does not derive any right to continue. Please refer to my replies on retirement age and retirement policy on this website.
Thank you.
From India, New Delhi
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If retirement age is mentioned in the certified standing orders, that will be final. The employee cannot be retired before that in the absence of any rule to the contrary. If, for any reason, the employee continues in service beyond the retirement age in the standing orders, he should be paid his normal salary and other benefits, including EPF (without pension fund after 58), ESI, etc., until he is retired, and gratuity should be paid until the last day.
Varghese Mathew
From India, Thiruvananthapuram
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Varghese Mathew
From India, Thiruvananthapuram
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Retirement Age Calculator 58 years.xls
Retirement Age Of Workmen Changed To Sixty Years.pdf