PLEASE GUIDE ME TO SETUP SALARY STRUCTURE FOR AN 60 YEARS CANDIDATE, HIS MONTHLY IN HAND SALARY WILL BE 2LACS.
From India, Bhopal
3From India, Bhopal
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Hi, Considering the age of the candidate, I suggest you can hire him as a Retainer / Consultant subject to TDS rather than hiring on regular rolls.
From India, Madras
From India, Madras
There is a retirement limit for many industries and also in governments. It is expected that beyond 58 or 60 a person may not have the physical or mental ability to discharge his duties fully, considering various factors, including health. However, considering the person's technical knowledge and experience that he may provide for your organisation, you can consider appointing him on Fixed Term Contract for a year and extendable every year. This contract may not entail several benefits like PF gratuity etc but while computing his salary, you can take into account the benefits he would get as a regular employee. Best wishes
From India
From India
Creating a Competitive Salary Structure.doc
Salary Structure.zip