Company law regarding senior citizen

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Ashish Bhalara (Querist)

14 May 2012 Dear expert,

I want to know that if employee's age is going to more than 60, the pvt ltd company can continue as a employee of senior citizen or not. Please know me the age for SC and all the law regarding SC to work in pvt ltd company.

CA Syed Raza Abbas Rizvi

CA Syed Raza Abbas Rizvi (Expert)

14 May 2012 Under the Income Tax Act, a senior citizen is a person who at any time during the previous year has attained the age of 65
years or more.

A new bracket for the people above 80 yeras of age has been added from AY 2012-13.

CA Syed Raza Abbas Rizvi

CA Syed Raza Abbas Rizvi (Expert)

14 May 2012 Further there is no restriction for a senior citizen for working in a private company

ARUN KUMAR MAITRA

ARUN KUMAR MAITRA (Expert)

16 August 2012 It depends upon the specific rules of that particular Pvt. Ltd.Company.Normally,a person retires after attaining the age of 58/60.However, legally there is no bar to re-engage a person even after retirement from a Pvt. Ltd.Company,unless it is a Govt. Company.

gbalakrishnan

gbalakrishnan (Expert)

30 September 2015 it is that one needs to check the Memorandum of association and articles of association fundamental document approved by registrar of companies(ROC).

if there are any regulatory changes it is the responsibility of registrar to inform the relevant company, so company secretary need to depend on the memorandum of association as also articles of association for that is the charter of that relevant company is my view.

ARUN KUMAR MAITRA

ARUN KUMAR MAITRA (Expert)

30 September 2015 Retirement age of an employee depends upon the service rules of the company.However,AOA may contain rules for extension/re=appointment of an employee.

gbalakrishnan

gbalakrishnan (Expert)

30 September 2015 retirement is the prerogative of retiring person not of any tom dick and harry if the government realizes, there would be no need of pensions and wasting of tax payers' moneys.. companies can allow any employees could retire if he wants to, that would be the finest economic development,after all every human is capable of living no need to trust any governments fiat and therefore in USA, Americans say individual rights ..there is only social security but you cannot draw like a pensioner till you die, so America is better prospering country as idle lazy men are very less.
indian laws need to recognize this thought.

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