Super Annuation Fund contribution
Govindarajan
(Querist) 24 May 2009
This query is : Resolved
In my apppointment letter contribution towards Super Annuation fund was shown as 15 % of basic pay . it is explained to me as a part of Cost to the Company . But it was not explained to me when it will be paid to me . Now the management telling that it will be paid only after 5 year of complition of service in the company , if I leave before completing 5 years I am not eligible to get any money . I would likw to know the legal status on this
Guest
(Expert) 25 May 2009
Please provide the details of organisation (PSU or Pvt) and your cadre so as to guide accordingly.
Govindarajan
(Querist) 27 May 2009
It is a private limited company and 100 % share holding by ovrseas corporate bodies .
Guest
(Expert) 28 May 2009
As the company is a private one, they can make any kind of rules regarding the funds which they announce as 'welfare'. If you face problems with the policies framed on statutory funds, such as 'P.F.,', 'ESI', etc., you can demand your legal rights. This superannuation fund and employees co-operative society fund rules can be framed as per the management's discretion.
It's my view. Learned experts opinion on the subject is solicited.
Govindarajan
(Querist) 29 May 2009
Thanks , Dear Legal Experts Please help me
