Industrial Relations
Manager Administratio
+1 Other

Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
Dear Colleagues, please enlighten as to how we can retain staff crossing 58 yrs and what are the benefits that they would entitled to?
From India, Chennai
Dear JP*Noronh
What is the purpose of asking such question. Yes. You can engage them as like adviser of your company, if he retires from the post of CEO or some director/GM or any other higher post. If they are in middle level then also you can engage them as like adviser to department where he worked.
You can superannuate them on attaining the age of 58 years and if you feel their services are required for your organisation, then you can enter into a contract with them for 1 year and further you can extend the same for years together. For Pay package you can offer a consolidated salary/honorarium. In that you can deduct only the TDS Part and nothing else is required.
Let us wait for other members reply.

From India, Kumbakonam
The above suggestion is absolutely correct.
He/She can be retained as a Contract Employ
They are not entitled for any other employment benefits like ESI, PF, Bonous etc.,
Their leave entitlement would be as per the contract agreement.

From India , Hyderabad
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2020 Cite.Co™