Please refer to a situation -
An employee joined an organisation on a certain date. But the company, by mistake, registered his name in PF account one year later. Now, following the pension amount calculation formula (i.e. Pensionable salary/70 x no. of years in service) it is found that the employee will loose a sum of Rs. 93/- per month.
Now the employer wants to compensate his loss. How, in a suitable way the loss of that employee may be compensated ? - Please suggest.
An employee joined an organisation on a certain date. But the company, by mistake, registered his name in PF account one year later. Now, following the pension amount calculation formula (i.e. Pensionable salary/70 x no. of years in service) it is found that the employee will loose a sum of Rs. 93/- per month.
Now the employer wants to compensate his loss. How, in a suitable way the loss of that employee may be compensated ? - Please suggest.