Retirement age
P.C. Joshi
(Querist) 15 November 2009
This query is : Resolved
Is there any law prevails in India governing the retirement age in private sector.A company has fixed retirement age of at 55yrs is it correct.
Views of the members are solicted.
Regards
P.c. Joshi
Kiran Kumar
(Expert) 15 November 2009
i think the retirement age in any private sector is not regulated by any Indian law or policy.
it is in fact a prerogative of Pvt. company to fix the age.
lets c what the other experts would say.
sanjay kumar patibandla
(Expert) 15 November 2009
Sir,
I too agree with Kiran Kumar. No regulation s were made by the central Government or any authority.
adv. rajeev ( rajoo )
(Expert) 15 November 2009
I agree with the learned members answers, usually pvt.,sectors follows the govt., rules for retirement age.
Raj Kumar Makkad
(Expert) 15 November 2009
Better to see the rules of the company or the appointment letter and if any term qua the age of the retirement is mentioned therein then company is bound to follow it otherwise it is free to retire its employees at any age.
Guest
(Expert) 15 November 2009
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE
MOBILE.09325226691, 09271971251
e.mail.adv.nbsawant@yahoo.co.in
e.mail.nandkumarbs@sify.com
REGARDING THE RETIREMENT AGE IN PVT.SECTOR KINDLY NOTE THAT
1.YOU HAVE TO CHECK YOUR OFFER AND APPOINTMENT LETTER AND CONDITIONS OF SERVICE IN THE SAME.
2.PVT.EMPLOYERS ARE GENERALY NOT INTERESTED TO KEEP EMPLOYEES FOR LONG PERIOD.BECAUSE MORE THE SENIORITY MORE PAY THEY HAVE TO PAY TO THE EMPLOYEE AND NOWADAYS THEY CAN HIRE TWO TO THREE EMPLOYEES INSTEAD OF PAYING HIGHER SALARIES TO SENIOR EMPLOYEES. THERE IS BAD TENDENCY AMONG THE EMPLOYERS TO REMOVE SENIOR EMPLOYEES ON FAKE CHARGES.
3.HENCE AS FAR AS RETIREMENT AGE OF EMPLOYEES IS CONCERNED IT DEPENDS ON THE AGREEMENT WITH THE EMPLOYEES UNION AND TERMS AND CONDITIONS OF SERVICE IN ANY PRIVATE COMPANY.
4.GOVT.SERVENTS HAVE FIXED SERVICE REGULATIONS AND ALL PAY AND ALLOWANCES AND RETIREMENT BENEFITS ARE AS PER LEGAL PROVISIONS AND SERVICE RULES.
IN CASE ANY FURTHER HELP IS REQUIRED KINDLY SEND DETAILS
THANKING YOU
YOURS SINCERELY
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE
V.Satya venkatarao
(Expert) 15 November 2009
I fully concur with the views expressed by my learned friends. In fact the fixation of retirement age in private as well as the public sector remains the prerogative of the employer. The SC judgment in the A P Govt power to reduce retirement age from 58 to 55 was upheld several years back. Hence the power of fixation and the subsequential amendments thereto remain in the domain of the employer
V.Satya venkatrao
Legal Eagle
(Expert) 16 November 2009
I agree to what is said above.
However, most of the Courts consider the age for retirement as 60 years. There have been cases where there is no mention of the retirement in the letter of contract. However, if we see the Employees Provident fund Act, as regards to the Employees Pension Scheme is concerned, the age for contribution is till 58 years and the companies take the age for retirement as 60. Isn't that contradicting.
