Settlement of retirement(terminal) benefit

subramanian.r (Querist) 20 May 2014 This query is : Resolved
If the Organisation is not having sound financial position is it obligatory to settle the retirement benefit to its ex employee immediately on retirement? If more than 100 ex-employees what is the right of 101th employee who retired now only.

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Sankaranarayanan (Expert) 21 May 2014
Need more clarity on your query

T. Kalaiselvan, Advocate (Expert) 22 May 2014
What is your position in the organisation?, why do you want post this query when you very well know the rules that the company has to settle all the terminal benefits to its employees immediately on retirement? Is the organisation a government concern or a private company? You have to give more details for a proper opinion to your query.

Guest (Expert) 22 May 2014
The question is not whether retired personnel is the first one or 101st. The matter is settlement of terminal benefits of the retirees without los of time after their retirement.

The question arises, as an Assistant Legal Manager of the organisation, are you or other working executives drawing salaries or not? if drawing your salaries, why not settle the terminal benefits of the retired employees from whatsoever source the organisation borrow funds for the purpose?

If you are not able to settle their terminal benefits, why you people are also drawing your salaries. Why they should be expected to hang around your company time and again or to approach court of law for getting settlement of their terminal benefits, when they rendered their long service for the benefit of the company?

BAALASUBRAMANNYAMM (Expert) 22 May 2014
The status of Serial No.101 is one and the same as of Serial 1 or Serial No. 100.

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