I would like to know retirement age is to consider 58years or 60years? As per my knowledge according to Telangana Shops & Establishment is 60years. But some companies following 58years. Is there any specific law to consider 58years or is it okay as per statutory also?
What is the retirement age followed in IT companies?
Please provide me your inputs which will be helpful to me a lot.
If an employee completes his or her 60 years then he or she can’t be on payroll, means there would not be any deduction like PF & ESI. They can be work in the company on contract basis only & for the contractual employees, there is no any deduction like PF & ESI.
This was shared by our employee turning 60 next month - this confirms your reply right? what I just do not understand is " And the 8.33% contribution from employer side will go towards EPF fund" - can you expound please…