Please guide me to set up a salary structure for a 60 year old candidate, his monthly in-hand salary will be 2lacs.
From India, Bhopal
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3From India, Bhopal
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Hi, Considering the age of the candidate, I suggest you can hire him as a Retainer / Consultant subject to TDS rather than hiring on regular rolls.
From India, Madras
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From India, Madras
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There is a retirement limit for many industries and also in governments. It is expected that beyond 58 or 60, a person may not have the physical or mental ability to discharge their duties fully, considering various factors, including health. However, considering the person's technical knowledge and experience that they may provide for your organization, you can consider appointing them on a Fixed Term Contract for a year, extendable every year. This contract may not entail several benefits like PF, gratuity, etc., but while computing their salary, you can take into account the benefits they would get as a regular employee.
Best wishes
From India, Bengaluru
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Best wishes
From India, Bengaluru
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Creating a Competitive Salary Structure.doc
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