Retirement Dilemma: How Do You Handle Employees Working Past Retirement Age?

Can you help me with this situation? There are employees in our company who have already crossed the retirement age of 58 or 60 years. They are currently around 62 to 66 years old.

Retirement Process Guidance

Please guide me on how I can proceed with their retirement and what kind of documents I need to obtain from them. What is the process for retirement?

Thank you.

In case your company contributes towards EPF, the authorities might have submitted pension documents as prescribed in the EPF Rules 1972, amended from time to time. Additionally, you are required to pay gratuity to the employees and any other benefits that are applicable in your company. Other benefits include leave encashment, medical facilities in ESI documents duly fulfilled and card issued, or medical insurance paid to the employee and dependents (NOK). Monetary benefits should be provided as applicable and in accordance with the rules and regulations framed by your company.

You should also work on passing benefits to the next of kin if applicable and keep records of the employer until such time for audit and inspections. In the case of government employees, they have a service record, Pension Payment Order, and other documents related to relieving from service upon superannuation, etc.

Best of luck