If any director retires at 58 yrs, what are the possibilities of their salary, PF, TDS etc.. Meaning how we should pay them if they retain.
From India, Mumbai
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From India, Mumbai
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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.
From India, Madras
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1016From India, Madras
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Leave Salary encashment on Retirement etc.- Exemption.docx
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