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Mr Madhu is right. But mostly the private companies adhere to 58 as the retirement age.
Individual company can fix the different age than 58. The PSU and other companies have changed the retirement age from 58 to 60.
From India, Mumbai
Individual company can fix the different age than 58. The PSU and other companies have changed the retirement age from 58 to 60.
From India, Mumbai
Employers in Pvt.sector will follow as per the stipulation in their HR policy.terms & conditions. Commonly 60 yrs. But this is in vogue in organised/corporate sector. In case of small & medium establishments the promoters shall have flexible policy to relax this stipulation and in deserving cases extension by couple of years is possible. Labour laws have no compelling provisions in this regard.
From India, Bangalore
From India, Bangalore
The Central Government has amended model standing orders by increasing the retirement age from 58 years to 60 years. Otherwise, in general, all are considering retirement age as 58 years. Even in the PF Act, the pension fund contribution of 8.33% will stop accepting once it completes the age of 58.
From India, Bengaluru
From India, Bengaluru
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Age.xls