Govardhan (private employee) 19 May 2009

Need information in regard to superannuation, pension scheme

Dear all,

I am working in a private concern in Andhra Pradesh. I am in need to get the kind clarification from this forum. My quarries are as follows:

If an employee has given resignation after one year service to his present position in a private organization, can that employee get the following benefits?

1. Can an employee get his full superannuation amount?

2. Can an employee get his full amount which was saved under pension scheme?

3. Can and employee get his full P.F amount?

If not what are the terms and conditions or rules and regulations?

Regards,

Govardhan J

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3 Replies

A.Mohamed Thaheer (ADVOCATE) 19 May 2009

Dear friend,

The retiral benefits are depending upon your private firm's service conditions on which you had accepted your employment.

a) Basically, if you RESIGN FROM THE POST, YOU CANNOT GET SUPERANNUATION PENSION.. You must have minimum period of service required for getting service benefits.

However, whatever you have paid as contribution during service period may be returned to you with interest subject to terms and conditions of the scheme concerned.

Sanjay Yadav (Law Student ) 22 May 2009

Dear Mr. Govardhan,

In brief, you are entitled to get full PF amount, the amount deducted as fund which was allocated in pension plan and also the amount which was deposited by the employer.

As far as the part of superannuation is concerned, some percentage kind of thing is applicable in this. But as you said that you have worked only for a year in that case I am sure that if any formula is applied for calculation of superannuation is not going to make any big difference in your total amount which is to be given to you as full and final settlement.

Regards,

Sanjay