Employee Retirement - Doc Download

Hi,
I work as a Sr. HR and Admin Exe in a software firm in Bangalore. I have detailed my issue below, please chk if anyone can resolve it.
We are around 100 employees in our company and one of them is nearing his retirment age which is due in Aug'07. Since this is the first case in our company, i have no clue on the procedures involved when an employee retires.
Also, we want this employee to continue to work for us as an independent contractor even after his retirement.
Please let me know how do i go about it. Also, what will happen to the PF and other benifits like group mediclaim, group accident insurance that are provided to this employee, after his retirement.
Regards
Ambika
6th July 2007 From India, Bangalore

Ms. Ambika,

In such kind of mails pl. mentionUR e-mail I.D. so that memebers can directly mail you .

Now coming to your querry.

1) First thing is write a letter to employee atleast 1-2 months in advance informing that he is retiring on that perticular date.

2) Give him P.F. Withdrawal forms ( if he is coverred under P.F. Act), & submit the duly completed form to P.F. authorities, on the last working day along with p.f. contribution (his /her's contribution & employers contribution)

3) Inform concern authorities to work on gratuity, so that you can handover gratuity cheque to that person on the last working day.

4) For this employee U may arrange for counceling , about post retired life

5) On the last working day u can arrrange for Send off function for this employee.

6) U can appoint him as a retainer but pl. ensure that he should be appointed only after a gap of some days ( ideally 1 -2 Months) so as he/she can not claim uninterrupted service benefits or any other employee may create a problem in future, about age of retirement.

Hope this will U help you

Regards

Abhijit

022 -30466916


6th July 2007

DEar Ambika
The information provided by Mr.Abhijit is very good,
You can also refer Labour Laws.
I have attached 2 files for Payment of Gratuity
for any help please contact 080 4124 4385 Ext 221(6Pm to 10Pm), Monday to Friday
Regards
M. Peer Mohamed Sardhar
7th July 2007 From India, Coimbatore

Attached Files (Download Requires Membership)

payment_of_gratutity_187.doc (53.0 KB, 420 views)

payment_of_gratuity_act_116.doc (36.0 KB, 380 views)

payment_of_gratutity_187.doc (53.0 KB, 205 views)

can we formulate the Policy for re emplyment of Retired employee... if anyone haveing policy for the same so please help me out to draft the same.... look forward for reply
10th June 2008 From India, Ghaziabad