i have worked for 25 years in an ltd. co. and at present, my company is under lockout for 5 months. I would like to resign from my job and my age is 54 years. is it good to resign or i have to join somewhere else to complete my full service of 58 years. I am not able to find a new job at this age. how many years of my service will be calculated for pension scheme. and will bonus 2 years of service will be added to my 25 years of service. I request all to kindly suggest what i shud do. thanks.
From India, Chennai
From India, Chennai
i have worked for 25 years in a ltd.co. and at present my company is under lock out for 5 months. i would like to resign my job and my age is 54 years . is it good to resign or i have to join some where is else to complete my full service of 58 years . i am not able to find a new job at this age. how many years of my service will be calculated for pension scheme. and will bonus 2 years of service will be added to my 25 years service. i request all to kindly suggest what i shud do. thanks.
From India, Chennai
From India, Chennai
As per your post, you have already put in 25 years of service in a Limited Company, and presumably you are a member of PF also. Therefore your pensionable service will be 25 years.
As you are only 54 years of age, you may try to obtain a scheme certificate from PF authorities and keep with you. Once you completes 58 years of age, you can submit your SC and get full pension.
(Even now also you can apply for pension, but it will be at a lesser rate).
Regarding your other query, that is, whether is it good to resign from the limited company where you put in 25 years of service or you have to join elsewhere, is purely your cup of tea and you have to take a call, on this.
From India, Aizawl
625As you are only 54 years of age, you may try to obtain a scheme certificate from PF authorities and keep with you. Once you completes 58 years of age, you can submit your SC and get full pension.
(Even now also you can apply for pension, but it will be at a lesser rate).
Regarding your other query, that is, whether is it good to resign from the limited company where you put in 25 years of service or you have to join elsewhere, is purely your cup of tea and you have to take a call, on this.
From India, Aizawl
As Mr. Nair said,
What you do with your career going forward is something you need to decide.
Someone can help you take a decision if they know you intimately and understand all the circumstances. We on this forum don't have the information to guide you on it.
Just look at the pro and con of each decision you can take.
If you stay on and the company revives, you will be a part of it again. If not, what do you lose?
If you leave, you can join somewhere else, or can take up consulting work for clients, which you can't do if you continue to work there.
Think of all options and which one benefits you most. Don't worry about if the decision is right, as you do not have a way to predict future. Just take the decision based on what you know now and be dynamic
From India, Mumbai
What you do with your career going forward is something you need to decide.
Someone can help you take a decision if they know you intimately and understand all the circumstances. We on this forum don't have the information to guide you on it.
Just look at the pro and con of each decision you can take.
If you stay on and the company revives, you will be a part of it again. If not, what do you lose?
If you leave, you can join somewhere else, or can take up consulting work for clients, which you can't do if you continue to work there.
Think of all options and which one benefits you most. Don't worry about if the decision is right, as you do not have a way to predict future. Just take the decision based on what you know now and be dynamic
From India, Mumbai
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