I am a co-founder and designated partner of an LLP firm with one other partner (founder). I am resigning from the firm and joining as an employee in another organization. So, I need a proper relieving/experience letter. Can I get the relieving/experience letter from my other partner?
From India, Chandigarh
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1From India, Chandigarh
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Dear Saranya,
When you started a firm, you must have entered into an agreement with another partner. Now you wish to withdraw from the partnership (you are "withdrawing" and not "resigning" – please note). You need an agreement once again. This second agreement itself will serve the purpose of relieving. If you have a copy of the legal agreement, then I don't think you need an experience letter over and above the legal agreement.
Thanks,
Dinesh Divekar
From India, Bangalore
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When you started a firm, you must have entered into an agreement with another partner. Now you wish to withdraw from the partnership (you are "withdrawing" and not "resigning" – please note). You need an agreement once again. This second agreement itself will serve the purpose of relieving. If you have a copy of the legal agreement, then I don't think you need an experience letter over and above the legal agreement.
Thanks,
Dinesh Divekar
From India, Bangalore
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Thanks, Dinesh, for your reply.
As you mentioned, we entered into an agreement with another partner when we started. However, the agreement doesn't have details on my designation; it is mentioned generally as Designated Partner. So, in order to prove my experience in the designated position, should I get an experience certificate?
From India, Chandigarh
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As you mentioned, we entered into an agreement with another partner when we started. However, the agreement doesn't have details on my designation; it is mentioned generally as Designated Partner. So, in order to prove my experience in the designated position, should I get an experience certificate?
From India, Chandigarh
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You can very well ask your partner to sign the experience letter. I am sure he will stand by it during BGV.
The question is on whether he should show you as an employee or clarify that you were a partner (designated partner) and you have since resigned. That is a call that needs to be taken after careful consideration of the circumstances and your future career plans. But I believe falsifying a fact often gives rise to problems.
From India, Mumbai
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The question is on whether he should show you as an employee or clarify that you were a partner (designated partner) and you have since resigned. That is a call that needs to be taken after careful consideration of the circumstances and your future career plans. But I believe falsifying a fact often gives rise to problems.
From India, Mumbai
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Thanks for the confirmation.
Being designated as a partner, I was receiving a monthly salary as well. In that case, am I eligible to receive a payslip like a normal employee? How can I justify my yearly income besides the shareholding?
From India, Chandigarh
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Being designated as a partner, I was receiving a monthly salary as well. In that case, am I eligible to receive a payslip like a normal employee? How can I justify my yearly income besides the shareholding?
From India, Chandigarh
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If you are receiving a salary, you are eligible to receive a salary slip. You are probably overthinking it. As long as you have a salary slip, it is sufficient. The company may ask for a bank statement to verify that you were receiving the salary, as, being a partner, you could manipulate and obtain a fake salary slip. If you were indeed receiving the salary and it reflects in your bank statement, there is no reason for them to request anything further.
From India, Mumbai
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From India, Mumbai
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(Fact Checked)-The partner in an LLP who receives a salary is entitled to a payslip like other employees. The income justification can be through salary slips and income tax returns. (1 Acknowledge point)