Kindly help me, what is the retirement age in private limited sector?? One of the employee is taking loan, and bank is asking for retirement letter from company. Can we give the letter.
Please help..
You can give the letter, but understand why the banker needs the same when the retirement age is strictly guided by Standing orders of the company or handbook,policy as set by the local statutes.
For eg it is 60 in AP, 58 in Telangana and so on.
Hi,
AGE OF RETIREMENT
The age of retirement or superannuation of a workman shall be as may be agreed upon between the employer and the workman under an agreement or as specified in a settlement or award which is binding on both the workman and the employer. Where there is no such agreed age, retirement or superannuation shall be on completion of 58 years of age by the workman.
If you are knowledgeable about any fact, resource or experience related to this topic - please add your views. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone. Join To Contribute