If a director retires at 58 years old, what are the possibilities regarding their salary, PF, TDS, etc.? Specifically, how should we compensate them if they continue to retain their position?
Hi, PF rules are common to all employees, regardless of their positions. While PF can be continued after the age of 58, pension contributions cannot be deposited. Therefore, after retirement, you may hire the Director on a Retainer Consultant basis. In such a scenario, only TDS deduction will be applicable, and there is no need for statutory deductions like PF.
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