I have been 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. The Manager from Company B resigned, so my boss asked me to handle both companies. I need a fresh appointment letter to be drafted as I will be drawing an enhanced salary from Company B (Salary of Company A + B from B). Help, please...
From India, Bangalore
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From India, Bangalore
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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
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138From India, Bhubaneswar
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Dear Govind Singh,
I am moving on to managing two private limited companies (A & B), and henceforth, the salary for this combined task will be credited cumulatively from Company B only. Internally, Company A will reimburse their portion of the payment to Company B. I need this transition to be properly documented to reflect 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.
Pros and Cons?
Should I exit from Company A and enter Company B, or is there a better alternative? What letters should be obtained from Company A and Company B to make this transition meaningful and complete in all respects? Can I hold a joint position in two separate private limited companies legally by being part of one? If yes, how?
Thanks for all the help in advance.
Regards,
Raj
From India, Bangalore
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I am moving on to managing two private limited companies (A & B), and henceforth, the salary for this combined task will be credited cumulatively from Company B only. Internally, Company A will reimburse their portion of the payment to Company B. I need this transition to be properly documented to reflect 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.
Pros and Cons?
Should I exit from Company A and enter Company B, or is there a better alternative? What letters should be obtained from Company A and Company B to make this transition meaningful and complete in all respects? Can I hold a joint position in two separate private limited companies legally by being part of one? If yes, how?
Thanks for all the help in advance.
Regards,
Raj
From India, Bangalore
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You may go for a tripartite agreement signed by A, B, and yourself. Mention all terms and conditions in the letter like the transfer of your PF, gratuity, continuity of services, superannuation, and other dues from A to B. Also, incorporate your dual responsibilities (specifying the principal employer and secondary employer as a visiting consultant) and revised compensation. Make sure your PF and taxes are deducted from B, and you receive Form 16 from B only.
You should not face any problems in handling the daily tasks as it is like a shared services job.
Regards,
Haider
From Saudi Arabia, Riyadh
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You should not face any problems in handling the daily tasks as it is like a shared services job.
Regards,
Haider
From Saudi Arabia, Riyadh
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Appointment Letter.docx