(1)friidging of retairment benefit by issuance chargesheet on last working days.(2) non finilising
Querist :
Anonymous
(Querist) 20 June 2011
This query is : Resolved
In Banking industry in India it has become practice to issue chargesheet on the last working day of employee to fridge the retiremantal benefit including P.F.And pension on the ground of pending enquiry.How this can be stoped? Secondly all enquary must be compleeted before the retairment of the emploee and judgement must be announce befire retairment of the emploee. A Bank official entire his life work hard & very honestly,during his tuner various business decissions are taken by him by which the organisation took high profits,by any of the reason if assets turn in to NPA even after 5-10 years of its sanctions.How this practice can be stoped ,because after retairment from the job his bread comes from this pension and P F money,and this must be relese on the day of retairment,what ever punishment is desire it must be announce before retairment.Please suugest your exper views.
Sudhir Kumar, Advocate
(Expert) 25 January 2012
In the first place PF cannot be stopped even if chargesheet is there. PF is evne protected from court attachment.
It is never mandatory to complete the Inquiry before retirement.
There is no law which can stop chargesheet on the last day of retirement.
When chargesheet is issued on the day of retirement benefits other than PF and Gp Insurance do stand frozen.
Please check pension rules of the bank (apparently Govt bank since you have not given identity of the bank)whether it contains provision for interim pension like in CCS(Pension) Rules.
