Please shed some light on the subject relevant to state government laws. Since most firms include in employment letters the phrase "on attainment of 58 years of age, you will be retiring from services," clarification on this matter would be beneficial for all senior employees of the firm.
From India, Chennai
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From India, Chennai
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Attaining 58 years and completion of 58 years mean the same thing to my understanding. Anyways, for clarification, please put the clause as "when any person completes 58 years as per the official date of birth records, they will retire."
From India, Mumbai
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120From India, Mumbai
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Our lawmakers are not so studious or careful when they draft legislation ambiguously. However, any age prescription is commonly understood based on the context. For retirement, it is typically the completion of 55, 58, or 60 years.
Regards, Vibhakar Ramtirthkar.
From India, Pune
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Regards, Vibhakar Ramtirthkar.
From India, Pune
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Retirement is determined by reaching the retirement age, not solely by completing the specified age unless stated otherwise. The Government of India and all government organizations adhere to this principle.
Regards,
KK
From India, Bhopal
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Regards,
KK
From India, Bhopal
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Understanding Retirement Policies
Retirement policies of banks, private corporations, and governments differ vastly. It can be at age 55, 58, or 60. When it is mentioned that upon attaining the age of 58, it clearly means that the person has completed the age of 58. The law is very clear. Perhaps the person who posted the query is not able to find the difference between completion and attaining.
From India, Bengaluru
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Retirement policies of banks, private corporations, and governments differ vastly. It can be at age 55, 58, or 60. When it is mentioned that upon attaining the age of 58, it clearly means that the person has completed the age of 58. The law is very clear. Perhaps the person who posted the query is not able to find the difference between completion and attaining.
From India, Bengaluru
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On completion of 58 means last day of the 58th year i.e. 1 day before of the Date of birth.
From India, Pune
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From India, Pune
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As everyone has mentioned, the retirement age is typically 58. However, in the case of small companies, retirement may not be granted easily to employees who have been with the company for a long time due to the limited business scope and staff size.
Compliance Implications
Does this situation have any implications on compliance matters such as EPF and Gratuity? Please clarify...
Thank you.
From India, Jamnagar
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Compliance Implications
Does this situation have any implications on compliance matters such as EPF and Gratuity? Please clarify...
Thank you.
From India, Jamnagar
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Extension of retirement age of teachers in Maharashtra 25.2.2011.pdf