Management wants his service Continuity of retiring employee - What are all the procedure to be taken under HR?

Hi, In our company, an employee is working in a senior-level position. His retirement is coming. Management wants his service Continuity. What are all the procedures to be taken under HR? We have given an appointment order mentioning the retirement age is 58. Please advice.

You allow him to retire from his services. Settle his accounts, Ensure all statutory payments to him.
After a span of few days, you appoint him on a retainership basis by issuing a fresh appointment letter for 1-2 years (to be renewed on mutual consent) on a fixed monthly salary (all inclusive) with a changed designation.

You can issue him an order extending his services for a mutually acceptable period. So before that, after ascertaining his wishes, you can formally write to him seeking his concurrence for extension of service. On receipt of his consent you can issue formal order and his retirement would stand deferred till such time.

Hello SubraVijat,
I don't think there will be any impediment to give him an extended tenure, without a break.
Before taking a decision consider these aspects also-
1.What is the ultimate purpose- if you decide to extend his service for further periods, you may extend with a 'break' or without 'break' . 'Without a break' means it would be a 'continuous service' and enable the employee to get the gratuity till his retirement including extended period. This unbroken extension may be opted by the employee which is favourable to him; may be EPS also.
2. You may have revisit your terms & conditions/HR Policy to effect proper amendments
3. If you would decide to effect break-in-service it will be considered as a new innings consequently his terms & conditions have to be redrawn.
4. If 3 above is the decision you have to arrange F&F settlement.
5. This dispensation may be quoted as a precedent in future.