Retirement of an employee - what is the procedure to be followed so that we do not deviate from any statutory requirement?

Hi, One of our employees who is a senior member of our organization is going to retire by October 2023. But we need his services to be continued further. Pls guide me what is the procedure to be followed so that we do not deviate from any statutory requirement

Hi,
you can hire him as a consultant.

Hire him as a consultant on a fixed remuneration for one or two years. Normally 80% of last total remneration is paid as consultancy charges. Your letter should list out his role and responsibilities, to whom he will report to etc. He wont be on regular roles of the company and no PF etc are deducted. Tax will be deducted applicable for consultant.

Best wishes