How Can We Safely and Legally Retain a Skilled Operator Over 60 Without ESIC?

Dear Esteemed Members,

We have a highly skilled operator who has reached 60 years of age and is still very healthy. The company would like to retain him on the job, and he is also very interested. Kindly advise on the best, safe, and legal way to retain him and how to handle insurance coverage in the absence of ESIC coverage if an accident happens to him.

Your guidance will be highly appreciated.

The best way is to allow him to retire on superannuation and settle all his dues, including gratuity. Facilitate him to withdraw all his Provident Fund and other savings. Now, engage him under 'Fixed Term Contract employment' for a fixed period, with medical and accidental insurance cover plan, as per your requirement, with any one of the authorized insurance service providers.