csraj77
I am working in a Pvt Ltd Company A for 16 years. My boss is the Managing Director of Pvt Ltd Company A and Pvt Ltd Company B. Manager from Company B resigned so my boss asked me to handle both companies. Need a fresh appointment letter to be drafted as I will be drawing enhanced salary from Company B (Salary of Company A + B from B). Help pls...
From India, Bangalore
abedeen7
135

Now I believe management will issue a letter of additional responsibilities and salary increment. Responsibility will include for managing both the company.
From India, Bhubaneswar
csraj77
Dear Govind Sing,
I am moving on to managing 2 pvt ltd companies (A & B) and henceforth salary for this combined task would be credited cumulatively from Company B only. Internally Company A will reimburse their portion of Payment to company B.
I need this transition to be properly documented to reflect the fact that this is a promotion to a bigger role. Of note is that I have been a Consultant in Company A and will be moving on to being an employee of Company B by accepting the new role.
Pro's and Con's?
Should I exit from Company A and enter Company B or is there a better alternative?
What letter should be obtained from Company A and Company B to make this transition meaningful and complete in all respect?
Can I hold a joint position of two separate pvt ltd companies legally by being part of one? If yes, how?
Thanks for all the help in advance.
Regards,
Raj

From India, Bangalore
emailtohaider@gmail.com
Dear Raj,
You may go for a tripartite agreement signed by A, B & yourself. Mention all T&C in the letter like transfer of your PF, gratuity, continuity of services, superannuation and other dues from A to B.
Also incorporate your dual responsibilities (specifying principal employer and secondary employer as a visiting consultant)and revised compensation.
Make sure your PF & taxes gets deducted from B and you get form 16 from B only.
Rest you should not face any problem in handling the daily task as it is like shared services job.
Regards
Haider

From Saudi Arabia, Riyadh
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