Superannuation

SARAVANAN.R (Querist) 11 November 2010 This query is : Resolved
Sir,

In Public limited Companies, we have superannuation Fund, that is company contributing a percentage of salary. Suppose if a person resigns after4 years continious service, will he be eligible for superannuation benefits.

Saravanan

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Kirti Kar Tripathi (Expert) 11 November 2010
it will depend terms of scheme of superannuation fund of company. if it is permissible under the scheme, then he is entitle otherwise not.

Raj Kumar Makkad (Expert) 11 November 2010
Merely a service of 4 years should not be regarded as the age of superannuation hence no such benefits should be given in such case, however, it all depends upon the terms of the scheme adopted by company and agreed by its employees.

s.subramanian (Expert) 12 November 2010
Yes.

Sri Vijayan.A (Expert) 13 November 2010
U have told that the employee resigns, it means it is not superannuation.
So naturally he is not eligible for superannuation benefits.
However, it may depend on the nature of service, service rules, T&C of appointment contract.

Parthasarathi Loganathan (Expert) 13 November 2010
However, some companies refund the contributions made to this Superannuation fund to the employee who resigns before 5 years of service. Author can check up this aspect with his employer

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