Contract to continue Retired employees - terms and conditions of working hours and remuneration?

Dear All, I am working for an FMCG Sector, recently joined, we have a lot of employees who are about to retire in few months, and the management is willing to continue their services for few years more. Can you please help me a draft of the contract with terms and conditions of working hours and remuneration to pay to issue such employees, also want to clarify whether the PF and Gratuity can be discontinued for such employees after retirement, is there any write-up for the same.

First of all, there has to be a clearcut demarcation between the regular service and the contract appointment. All the formalities of superannuation have to be completed and orders issued, PF & gratuity for past services applied and processing completed. Let such ex-employees apply again and appointed again on contract service as a totally new employee. The appointment order should make this explicit and there should be no reference to the previous employment. Give them a new employee number and the designation shall be entirely new.
Since you are in FMCG Sector, each job has its own demand, so it is better that you prepare a draft contract and the learned members of the forum can contribute further on it.