Hi Sir, An manager attained his retirement age this month, Management decided to extent his service with specific portfolio and assignments
If it's so from next month what has to be done in term of his payroll, PF deductions, etc. Do we have to continue him in the same role or differentiate?
Pls advice.
From India, Chennai
If it's so from next month what has to be done in term of his payroll, PF deductions, etc. Do we have to continue him in the same role or differentiate?
Pls advice.
From India, Chennai
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Dear Colleague,
Management is free to engage services of retired Employee. However, ensure that his all legal dues are settled entirely.
You can engage him in the same pre- retirement role but as a ' Consultant' . It is preferable to engage him after a good gap of say two months between date of Retirement and rehire.
You may pay him lump-sum amount as his fees with specific duration of engagement say initially for one year as per your requirements.
Once retired, no PF is applicable.
The letter of engagement
containing terms shouldd not sound like an employee but as are applicable to Consultant.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
617Management is free to engage services of retired Employee. However, ensure that his all legal dues are settled entirely.
You can engage him in the same pre- retirement role but as a ' Consultant' . It is preferable to engage him after a good gap of say two months between date of Retirement and rehire.
You may pay him lump-sum amount as his fees with specific duration of engagement say initially for one year as per your requirements.
Once retired, no PF is applicable.
The letter of engagement
containing terms shouldd not sound like an employee but as are applicable to Consultant.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
Yes you can continue the services of retired employees but before that you have to settle down his dues as well.
After you can rehire he/she as consultant and no need to deduct his pf . You can pay lump sum.
From India, Chandigarh
After you can rehire he/she as consultant and no need to deduct his pf . You can pay lump sum.
From India, Chandigarh
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