thank you TSK Raman - that was very useful. As I work in a school, often when we struggle for good qualified teachers, at times we invite retired teachers to come on part time. It is very facilitative as they already know the system, and in fact act as informal mentors - by their own choice!! And everyone seems happy with the arrangement.
From India, Mumbai
2From India, Mumbai
dear manpreet,
As best said by Shri T.k.Raman, having a man with good value is a must for progress, the term veteran is the least said, they will help the company progress in all aspects by observation, the leaps and bounds can be crossed in ease and the real progress achieved if some valued veteran got in.
Since, you have said the age of retirement as 58, hopefully, they should have retired Govt. Employee, and they in several cases helped the institutions to progress in all aspects..
the terms of perks can be fixed with due respect and honour, there is no restriction in fixing the good, TDS should be deducted at source rather than after calculating afterwards, also, the annual lumpsum or consolidated amount can be sorted out in keeping their value and commitment... and everything is depend with the requirement ....
From India, Arcot
As best said by Shri T.k.Raman, having a man with good value is a must for progress, the term veteran is the least said, they will help the company progress in all aspects by observation, the leaps and bounds can be crossed in ease and the real progress achieved if some valued veteran got in.
Since, you have said the age of retirement as 58, hopefully, they should have retired Govt. Employee, and they in several cases helped the institutions to progress in all aspects..
the terms of perks can be fixed with due respect and honour, there is no restriction in fixing the good, TDS should be deducted at source rather than after calculating afterwards, also, the annual lumpsum or consolidated amount can be sorted out in keeping their value and commitment... and everything is depend with the requirement ....
From India, Arcot
I suggest to keep the retired professional on contract basis. Keeping them as consultant means, you have to deduct 10% of their pay/fee as TDS and they will loose good chunk of earnings as the refund after IT return filing is onerous on them.
On contract basis, you can also cover them under PF (the EPS portion is not applicable for them). Leaves may decided as per your company policies.
Pon
From India, Lucknow
On contract basis, you can also cover them under PF (the EPS portion is not applicable for them). Leaves may decided as per your company policies.
Pon
From India, Lucknow
Dear Mr. Pon1965,
I am engaged as a Consultant (am not an employee), I find the 10% TDS is much more beneficial. EPF etc., is out of question. You can get an engagement letter, needn't be a contract, with the arrangement of one month notice either ways. This system has been working pretty perfrectly, not only for retired people there are some consultants who prefer an arrangement of getting a consulting fee of Rs. 'x' annually and Rs. 'x/12 - 10% TDS.'
Regards,
TSK. Raman
From India, Hyderabad
I am engaged as a Consultant (am not an employee), I find the 10% TDS is much more beneficial. EPF etc., is out of question. You can get an engagement letter, needn't be a contract, with the arrangement of one month notice either ways. This system has been working pretty perfrectly, not only for retired people there are some consultants who prefer an arrangement of getting a consulting fee of Rs. 'x' annually and Rs. 'x/12 - 10% TDS.'
Regards,
TSK. Raman
From India, Hyderabad
Dear Mr. Bernard Butty,
With due respects to you, I am unable to link your response to the subject under discussion Work after retirement age 58 years, unless you are suggesting that if any retired professional wants to be an entrepreneur, and that you are offering services that they could consider.
Your response will be highly appreciated.
Warm regards,
TSK. Raman
From India, Hyderabad
With due respects to you, I am unable to link your response to the subject under discussion Work after retirement age 58 years, unless you are suggesting that if any retired professional wants to be an entrepreneur, and that you are offering services that they could consider.
Your response will be highly appreciated.
Warm regards,
TSK. Raman
From India, Hyderabad
Senior staff can continue his/her work subject to the HR policy,about the promotion/seniority;
salary - it is mutual, because it is whom require the work.
But the senior person who is extended his service can not claim for promotion or salary hike in future.
Regards,
Ravigi
From India, Calcutta
salary - it is mutual, because it is whom require the work.
But the senior person who is extended his service can not claim for promotion or salary hike in future.
Regards,
Ravigi
From India, Calcutta
Dear AS_Ravi,
Would like to seek a clarification with all the humility and ignorance I can summon.I fail to understand what this means as a response ..." hi, would appreciate if you could provide a copy of your EOD for my reference / use. thanks, in advance. regards, ravi "
For most like me EOD = End Of Day, what does this mean in your parlance.
From India, Hyderabad
Would like to seek a clarification with all the humility and ignorance I can summon.I fail to understand what this means as a response ..." hi, would appreciate if you could provide a copy of your EOD for my reference / use. thanks, in advance. regards, ravi "
For most like me EOD = End Of Day, what does this mean in your parlance.
From India, Hyderabad
Dear AS_Ravi,
Would like to seek a clarification with all the humility and ignorance I can summon.I fail to understand what this means as a response ..." hi, would appreciate if you could provide a copy of your EOD for my reference / use. thanks, in advance. regards, ravi "
For whom is this meant for and for most like me EOD = End Of Day, what does this mean in your parlance.
From India, Hyderabad
Would like to seek a clarification with all the humility and ignorance I can summon.I fail to understand what this means as a response ..." hi, would appreciate if you could provide a copy of your EOD for my reference / use. thanks, in advance. regards, ravi "
For whom is this meant for and for most like me EOD = End Of Day, what does this mean in your parlance.
From India, Hyderabad
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