"I have been employed with ABC Company for the past 7 years. The company operates multiple business units, two of which have been sold to XYZ company. As a result, I have been transferred to XYZ company.
1: Am I eligible for gratuity benefits from ABC?
2: Can I withdraw my Provident Fund (PF) and pension accumulated during my time with ABC?
3: Is XYZ allowed to change my existing salary package?"
From United States, Chicago
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1: Am I eligible for gratuity benefits from ABC?
2: Can I withdraw my Provident Fund (PF) and pension accumulated during my time with ABC?
3: Is XYZ allowed to change my existing salary package?"
From United States, Chicago
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As per the Indian system, the transfer documents will specify whether the service of the employees in the transferee company will be considered for future benefits in the new company. If there is no settlement of gratuity at the time of transfer, the employees should receive the benefit of the length of service with the old company in the new company. However, this should be documented in the form of a tripartite settlement, involving the employer of the old company, the new company, and the concerned employee.
On joining the new company, the same UAN (of EPF) will continue, but you will be assigned a new member ID based on the company's PF code. Consequently, there will be two member IDs under the same UAN. To transfer the funds from the old PF account to the new PF account, you will need to visit the member portal. This transfer can be initiated after you have been assigned a new member ID by the new company.
The salary package and other service conditions will always be subject to the HR policy of the new company, as stated in the transfer document. Normally, salaries and service conditions should remain unchanged, but they may be more favorable than what the employee currently receives. For employees covered by the Industrial Disputes Act, their rights will be protected by the law; for others, decisions will be made through mutual agreement.
From India, Kannur
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4758On joining the new company, the same UAN (of EPF) will continue, but you will be assigned a new member ID based on the company's PF code. Consequently, there will be two member IDs under the same UAN. To transfer the funds from the old PF account to the new PF account, you will need to visit the member portal. This transfer can be initiated after you have been assigned a new member ID by the new company.
The salary package and other service conditions will always be subject to the HR policy of the new company, as stated in the transfer document. Normally, salaries and service conditions should remain unchanged, but they may be more favorable than what the employee currently receives. For employees covered by the Industrial Disputes Act, their rights will be protected by the law; for others, decisions will be made through mutual agreement.
From India, Kannur
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