27 October 2009
Case – Our company is a limited company registered under Companies Act, 1956 and having registered office at Gurgaon, Haryana. At present we have a team of 18 employees all over India under different branches. As per our Company’s HR policies, the retirement age of an employee has been fixed at 60 yrs. We have Private PF trust and all rules are defined under PF trust deed. My queries are:-
Our Country Head has attained 60 yrs of age in this October, 09 and as per Company’s policy he is going to retire by 31/10/2009 but Our Management wants to use is expertise for another 1yr. and our Country Head is also agrees for extension, so what are the steps to be follow / alternates available with us for extension of his services for another 1 yr. Whether during this extended period – he works as an employee under the designation Country Head and exercise all authorities available to him prior to extension; Whether PF liability arises and we have to deduct and deposit PF as usual; Whether gratuity liability arises. what else precaution / formalities to be taken care
29 November 2009
you should take the service of PF abd Esi expert near your locality. you can extent the service agreement mutually. for gratuity see the gratuity act, you can find it easily on net or in Law book.
CAclubindia
