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Conversion of partnership into sole proprietorship

Sathiya Moorthy (Article Assistant) (21 Points)

26 February 2016

There is a partnership firm of two partners. The firm is not registered. One partner gets retired with the consent of another. Can the existing partner able to convert the Partnership firm into a Sole proprietorship? If yes what is the procedure?

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1 Replies

suhasgedam (Finance Exe) (33 Points)
Replied 26 February 2016

Dea Friends,

Joining date – 1st July-2012 to till date (deployed at same organization)

I have joined organization in June-12 on third party account (like Adecco India Pvt).

Now my main organization changed the vender (like Manpower services).

But, I have completed my 3year and 10 month in same company (like Adecco India).

My main company say’s they are not transferred my gratuity amount in new vendor account.

So please suggest to me

· Can I lose my eligibility of gratuity or any solution?

· If my main organization ready to pay one time settlement instead of transferring gratuity in to new vendor account then, How to calculate gratuity amount? In my case.

Thank in advance for your valuable support.

Suhas