I would appreciate advice if it is possible to appoint a 60+ individual on regular salary basis or would it be necessary to appoint him as a retainer or consultant.
From India, Kalyan
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From India, Kalyan
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Dear Ash, All three can be done as per your company requirement. What is your fear? Regarding PF and ESI applicable to 60+ staff, you may find useful insight within Citerhr. Good luck. Ukmitra
From Saudi Arabia, Riyadh
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297From Saudi Arabia, Riyadh
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It's absolutely okay for you. There is no ban under any law of the land. I think you wanted an experienced person in your staffing, and he could be engaged on a regular basis with a suitable pay scale or consolidated remuneration as your company deems fit, considering his utility value for your firm. Even continuing his EPF is also okay, provided he had previously had one EPF account but not yet closed; the same account could be continued, but no pensionary benefits will accrue to this extended service. Similarly, ESI. This shouldn't be a problem as he might be fixed above Rs. 15,000 scale. To get over this, you may arrange for him a health insurance policy like mediclaim, which should take care of his health needs. If necessary, you have to amend your HR policy/rules suitably to accommodate such a requirement.
Regards.
From India, Bangalore
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Regards.
From India, Bangalore
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Hi I would suggest the Consultant option. Less administrative work is involved. All the best. Regards,
From India, Mumbai
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From India, Mumbai
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No need to worry. You can assign that employee (60+). In the EPF section, you will deduct 12% of the employee's share and deposit 12% of the employer's share, but in that case, you do not need to deposit 8.33% (pension share) out of the 12% (employer's share) for that employee. There is no problem in the ESIC section either.
Example Calculation:
If Employee Salary = 6500, then the calculation will be:
6500 x 12% = 780/- (employee share)
6500 x 12% = 780/- (employer share)
Total of 1560/- will be deposited in the Provident fund account. No pension scheme will be granted (i.e., 8.33% portion).
From India, Delhi
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Example Calculation:
If Employee Salary = 6500, then the calculation will be:
6500 x 12% = 780/- (employee share)
6500 x 12% = 780/- (employer share)
Total of 1560/- will be deposited in the Provident fund account. No pension scheme will be granted (i.e., 8.33% portion).
From India, Delhi
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