Superannuation benefits

Amit (Querist) 04 July 2013 This query is : Resolved
My company has provided superannuation benefits but has put a condition that it is applicable only when i complete 6 yrs of service.

Should they not allow me to atleast transfer the superannuation (presently maintained with LIC) to another organisation if not withdrawal

the company shows superannuation as part of my annual CTC and would be claiming tax benefits (i assume that)

is it fair

thanks

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Sudhir Kumar, Advocate (Expert) 04 July 2013
meet nearest service expert with all papers.

Rajendra K Goyal (Expert) 04 July 2013
Company is making provisions for superannuation benefits of the employees and getting tax rebate on this provision, does not entitle the employee for the benefits till the required conditions laid by the Company for such benefits are fulfilled. You should contact some local labour lawyer with all documents, copy of the rules to guide you properly.

Raj Kumar Makkad (Expert) 04 July 2013
I do endorse the advice of Rajender.

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