shiting employee jobinto another company
This query is : Resolved
03 April 2008
Hi,
One of my friend working with one pvt ltd firms since last 20 yrs. now company has decided to shift his job to another group company.
In such cases what are the procedure require and can first company should pay all dues including 20 yrs service gratuity and than give fresh appointment into 2nd company.
One of my friend working with one pvt ltd firms since last 20 yrs. now company has decided to shift his job to another group company.
In such cases what are the procedure require and can first company should pay all dues including 20 yrs service gratuity and than give fresh appointment into 2nd company.
03 April 2008
It will be by resignation, settlement of dues including gratuity. PF if it is Govt PF, it can be transferred.
03 April 2008
SINCE BOTH COMPANIES ARE DIFFERENT (EVEN IF DIRECTORS ARE COMMON),ONE HAS TO RESIGN PRESENT EMPLOYER IF THE SEPARATION IS EMPLOYEES DECISION AND THEN SEEK FULL AND FINAL SETTLEMETS OF SALARY, LEAVE ENCASHMENTS,GRATUTY,AFTER IT RECOVERY ACCORDINGLY(INCL PF WHICH CAN BE TRSFRD TO NEW COMPANY IF THE NEW CO. HAS PF.).
THE EMPLOYEE CAN ASK FOR FRESH APPTMNT. LETTER OF THE NEW COMPANY.
BUT IF THE DECISION TO TRANSFER TO A GROUP COMPANY IS BY MANAGEMENT , THE PRESENT EMPLOYER CAN ISSUE A LETTER (TO THE NEW COMPANY AND THE EMPLOYEE TRANSFERRED)) STATING THE DATE OF TRANSFER AND REASONS FOR TRANSFER AND TRANSFER ALL EMPLOYEE BENEFITS TO THE NEW COMPANY .THIS IS MONETARILY MORE BENEFICIAL TO THE EMPLOYEE IN LONG TERM .
R.V.RAO
THE EMPLOYEE CAN ASK FOR FRESH APPTMNT. LETTER OF THE NEW COMPANY.
BUT IF THE DECISION TO TRANSFER TO A GROUP COMPANY IS BY MANAGEMENT , THE PRESENT EMPLOYER CAN ISSUE A LETTER (TO THE NEW COMPANY AND THE EMPLOYEE TRANSFERRED)) STATING THE DATE OF TRANSFER AND REASONS FOR TRANSFER AND TRANSFER ALL EMPLOYEE BENEFITS TO THE NEW COMPANY .THIS IS MONETARILY MORE BENEFICIAL TO THE EMPLOYEE IN LONG TERM .
R.V.RAO
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