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Anindita   11 July 2017

Time of paying out superannuation

Respected Sir/Madam,

After 30+years of service, I am set to retire next month. By when should I expect to receive my superannuation benefits? Is there a fixed time frame for this? What steps can I talk if I do not receive benefits within stipulated time?

 

Best Regards

Anindita



Learning

 7 Replies

Kumar Doab (FIN)     11 July 2017

Ideally on LWD.......

Anindita   11 July 2017

What is to be done if it is not paid on the last working day? Employees who have retired before me say they are yet to receive the benefits, months after retirement I am told there is no law specifying the date within which the payout has to happen. I am asking for legal opinion on this

Kumar Doab (FIN)     11 July 2017

Probably you are hinting that the executive can take any decision................!

Have you downlaoded the service rules, conditions narrating  Superannuation!

Kumar Doab (FIN)     11 July 2017

15. It hardly needs to be emphasized that the executive instructions are not having statutory character and, therefore, cannot be termed as "law"…………………………………….  

You may go thru:

https://www.lawyersclubindia.com/forum/P-f-gratuity-90740.asp

Anindita   11 July 2017

Thanks for your reply. However, I am confused here. To make matters clear, I am not being terminated. This is retirement based on age. And the fear of delay is based on past record of the company towards other employees. To one employee, superannuation was paid but after about 2 years. Many are waiting for 7 months or more. Is this to be expected? And no where in the service rules, is there any time period for paying out superannuation. Best Regards Anindita

Kumar Doab (FIN)     12 July 2017

It is strange that the service rules in your case do not set any time line for Superannuation payouts.

Assuming that it is some Superannuation policy even then it should have a mention of day/time of payment.

Kumar Doab (FIN)     12 July 2017

In the meantime you may go thru:

RETIRAL BENEFITS AS A HUMAN RIGHT – NHRC INITIATIVES

https://nhrc.nic.in/Documents/Publications/Retiral%20Benefits%20as%20a%20Human%20Rigts%20NHRC%20Initatives_2014.pdf

Thereafter you should be clear.


Attached File : 60926 20170712142320 643629257 retiral benefits as a human rigts nhrc initatives 2014.pdf downloaded: 110 times

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