Anonymous
Dear Sir/Madam,
Kindly let me know what happens to employees who have completed a tenure of 4-5 years in a partnership firm which later dissolves the company and forms a new private entity? what happens to the Gratuity benefit etc. of such old tenured employees?

From India, Mumbai
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Sreenarayanan C
Works Manager
Nathrao
Insolvency N Gst Professional

Use factoHR and automate your HR processes

Mobile-first hire to retire HR and Payroll software that automates all HR operations and works as a catalysts for your organisational growth.



kumaracme
416

so long the company keeps it identity from partnership to private limited name, the gratuity benefits has to continue. but if the company changes its name then there is no question of this benefit.
From India, New Delhi
Anonymous
Dear Sir, thank you for your valuable and expert advice. I am reconfirming the same, if the company name was named XYZ Co. (partnership firm) and now since 2013 it is known as XYZ Co. Pvt. Ltd. then will the gratuity benefit continue for the old employees?
Thanking you.

From India, Mumbai
nathrao
3106

There is a procedure laid dwon for converting partnership into private limited company.
IF the procedure is followed and all assets and liabilities are transferred from partnership to company,then gratuity can be claimed.
Procedure for Conversion of Partnership firm into company
But if the partners want to evade responsibility towards gratuity loopholes are there.

From India, Pune
sreenarayanan c
2

Gratuity is payable only if an employee completes 5 years of service. Once an employee has become eligible for gratuity then the liability will continuem whether it becomes a Pvt Ltd company on a later stage. Even if the name is changed there are chances that the employee can claim.
From India, Bangalore

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views.







About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2022 CiteHRŽ

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server