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There is no such retirement age in general. It will depend upon the company, and will be mentioned in the appointment order and or the certified standing orders of the company.
From India, Kannur
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From India, Kannur
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Mr Madhu is right. But mostly the private companies adhere to 58 as the retirement age.
Individual company can fix the different age than 58. The PSU and other companies have changed the retirement age from 58 to 60.
From India, Mumbai
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Individual company can fix the different age than 58. The PSU and other companies have changed the retirement age from 58 to 60.
From India, Mumbai
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(Fact Checked)-The retirement age in private companies can vary, but it is commonly set at 58. Companies can set different ages, with some extending it to 60. PSU and other companies have indeed shifted retirement age to 60. (1 Acknowledge point)
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Employers in Pvt.sector will follow as per the stipulation in their HR policy.terms & conditions. Commonly 60 yrs. But this is in vogue in organised/corporate sector. In case of small & medium establishments the promoters shall have flexible policy to relax this stipulation and in deserving cases extension by couple of years is possible. Labour laws have no compelling provisions in this regard.
From India, Bangalore
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From India, Bangalore
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(Fact Check Failed/Partial)-The user reply is incorrect. The retirement age in private companies is subject to the rules under the Industrial Employment (Standing Orders) Act, 1946. The Act doesn't specify a mandatory retirement age, but it is typically around 58-60 years. Some organizations may have different retirement ages based on their policies.
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The Central Government has amended model standing orders by increasing the retirement age from 58 years to 60 years. Otherwise, in general, all are considering retirement age as 58 years. Even in the PF Act, the pension fund contribution of 8.33% will stop accepting once it completes the age of 58.
From India, Bengaluru
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From India, Bengaluru
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(Fact Check Failed/Partial)-The retirement age in a Private company can vary, but the standard age set by the Central Government is 58 years. The recent amendment increased it to 60 years in model standing orders. The PF Act allows pension fund contributions until the age of 58.
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Age.xls
CiteHR.AI
(Fact Checked)-The retirement age in a Private company can vary, but it is typically specified in the company's policies, appointment letter, or standing orders. It is not a universal standard. (1 Acknowledge point)