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Krishna

Krishna Kumar  |383 Answers  |Ask -

Workplace Expert - Answered on Feb 06, 2024

Krishna Kumar is the founder and CEO of GoMoTech, a company that provides strategic consulting in B2B sales, performance management and digital transformation.
Before branching out on his own, he worked with companies like Microsoft, Rediff, Flipkart and InMobi.
With over 25 years of experience under his belt, KK is a regular speaker at industry events and academic intuitions, both in India as well as abroad.
KK completed his MBA in marketing from the Sri Sathya Sai Institute of Higher Learning in Andhra Pradesh and his management development programme from XLRI, Jamshedpur.
He has also completed his LLB from Nagpur University and diploma in PR from Bhavan’s College of Management, Nagpur, where he was awarded a gold medal.... more
Asked by Anonymous - Oct 20, 2023Hindi
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Career

Sir I was terminated by an organization without any notice/information and the termination letter stated that I was discontinued from back date (2 days before). I mean they informed me on 16th while I was working in the market and the discontinuation letter stated the date as 14th. Can any organization terminate an employee retrospectively and in such an unprofessional manner. I was also not paid previous month's salary and expenses on the payout date. I am also doubtful whether they will process my full and final or not. What course of action do I have in case this happens. I have the appointment letter as well as discontinuation letter with me. My company mail id is still active and I am following up with the HR for settling my pending dues as they had told to clear the same in 2-3 days but no reply from their side. Kindly suggest whether should I send notice or is there any legal course of action to get my full and final settlement done. Pls help.

Ans: Dear

Feel sorry for what you have gone through.

In situation like this there are two approaches. First have resentment towards the company and think of legal ways to get what you think is you right. Second, be practical, let go your resentment....take whatever you get and focus your time and energy on getting next job. Choice is yours.

All the best
Career

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Asked by Anonymous - Mar 20, 2024Hindi
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Hi sir I could not serve my 3 months notice period however I had served 2 months and asked HR to give me early reliving. I mentioned that my parents are not well and attached medical prescription but they denied and said you to serve complete 3 months. After 2 months I stopped going to office they were sending me absconding mails meanwhile and after 1month they sent me termination letter what shall I do In such case ? I was working there for 2 years.
Ans: I’m sorry to hear about your situation. When facing termination due to not serving the full notice period, it’s important to understand your rights and the potential legal implications. Here’s what you can consider doing:

Review Your Employment Contract: Check the terms regarding the notice period and termination. There might be provisions for situations like medical emergencies.
Legal Consultation: It may be beneficial to consult with a labor law attorney who can provide advice based on the specifics of your case and the applicable laws.
Documentation: Gather all relevant documentation, including the medical prescriptions you submitted, any communication from HR, and the termination letter.
Negotiation: You could attempt to negotiate with your employer, explaining the situation with your parents and seeking a compassionate resolution.
Labor Office: If negotiation fails, you may approach the local labor office or labor court for guidance and to explore options for redressal.
Understand Legal Precedents: Familiarize yourself with any legal precedents that may apply to your case. For instance, the Supreme Court has provided judgments on employment notice periods that might offer insights into your rights and obligations.
Remember, each situation is unique, and the best course of action depends on the specifics of your employment contract and the company’s policies. It’s crucial to handle the matter professionally and legally to ensure the best possible outcome. Good luck!

..Read more

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Milind

Milind Vadjikar  |650 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Nov 17, 2024

Asked by Anonymous - Nov 14, 2024Hindi
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Money
Hello finance guru, I am 45 years old , with 2 kids. I live in a Tier-1 city with ~49 Crores of networth. This includes ~12 crores of investment in real estate (land and a flat at a prime location), ~34 crores in equity, ~1 Cr in Crypto and ~2 Cr in cash. I work in a pharmaceutical firm in an executive role and planning to retire in the next 1 year. My knowledge on finances is average and would like to seek your advise. I would like to generate ~2.5 lakhs per month for expenses from my savings and would like to double my networth in the next 7 years. Could you provide me help on the directions I can take to make this working?
Ans: Hello;

Deducting the real estate and crypto investments from your networth, we have 36 Cr.

You may invest 4 Cr each in 2 equity savings type mutual funds and 2 conservative hybrid debt oriented mutual funds.

If you do a 3% SWP from each of these funds you may expect a monthly payout of around 2.8 L (post-tax).

These funds generally yield 8-9% returns so they will continue to provide inflation adjusted income to you.(6% inflation rate considered)

Balance remains around 20 Cr, while 2 Cr may be retained as liquid fund for contingency requirement, the balance 18 Cr you may invest in combination of mutual funds, PMSs and AIFs.

As you enter retirement phase your focus should shift from "maximising returns" to "decent returns with moderate risk" since return of capital is more important than return on capital.

Happy Investing;
X: @mars_invest

*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing.

...Read more

Milind

Milind Vadjikar  |650 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Nov 17, 2024

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Money
Dear Sir, I am 53 yrs. I want to retire @60 with a INR 2.00 Cr Corps. Currently I have following SIP Total SIP 30000/- PM Axis Bluechip Fund - Regular Plan - Growth HDFC Mid-Cap Opportunities Fund - Growth Plan Aditya Birla Sun Life Pure Value Fund - Growth Option Aditya Birla Sun Life Equity Advantage Fund - Regular Growth Sundaram Mid Cap Fund Regular Plan - Growth Bajaj Finserv Flexi Cap Fund -Regular Plan-Growth Franklin India Focused Equity Fund - Growth Plan Franklin India Smaller Companies Fund-Growth HDFC Top 100 Fund - Growth Option HDFC Multi Cap Fund - Growth Option I have MF Investment @ 26.00 Lakh Current Value is @ 52.00 Lakh. I have Savings of Rs. 10.00 Lakh, PPF Rs. 5.00 Lakh, Share investment Current Market Value around Rs. 20.00 Lakhs. I don't have any Loan. Insurance INR 1.50 Cr. up age of 70. Per month earning around Rs. 1.25 Lakh. I have a Investment in real estate which can give my INR 40.00 Lakh at current Market Price & Gold Investment of INR 20.00 Lakh which I think sufficient for my daughter Marriage. Current Monthly Expense INR 40-50 K. I am in a new tax regime, so discontinue my ELSS saving and PPF Saving. Suggest how i can increase my Corpus for retirement.
Ans: Hello;

You may top-up your monthly sip by 10% every year for 7 years. This will grow into a sum of around 0.51 Cr.

The MF corpus and direct equity holdings worth 0.72 Cr today will grow into a corpus of 1.59 Cr after 7 years.

Therefore you may achieve your intended corpus of 1.59+ 0.51=2.1 Cr, 7 years from now. A modest return of 12% is assumed from MF and direct equity holdings.

2-3 years before 60 you should start moving your gains from equity funds to liquid or ultra short duration debt funds to protect it against market volatility.

Also good health care insurance for yourself and your spouse.

RE property you may sell at a later date to boost your retirement income.

Happy Investing;
X: @mars_invest

...Read more

Milind

Milind Vadjikar  |650 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Nov 17, 2024

Milind

Milind Vadjikar  |650 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Nov 17, 2024

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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