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Shekhar

Shekhar Kumar  | Answer  |Ask -

Leadership, HR Expert - Answered on Apr 29, 2024

Shekhar Kumar is senior manager, talent acquisition, at the Shri Venkateshwara University in Gajraula, Uttar Pradesh. He has 18 years of expertise in the search and placement of executive leadership talent across various industries.
He has also mentored middle and senior management professionals for leadership positions and guided them in career development.
Shekhar has a bachelor's degree in business management from Magadh University, Bihar, and a master's degree in human resource management from Annamalai University, Tamil Nadu.... more
M Question by M on Apr 27, 2024Hindi
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I worked for a private PMC company with appointment letter later after four months they were unable to pay salary and assured us by mails and what's up messages that, they are having some financial problems and requested to continue and pending salaries would be released soon and later stopped taking calls, We have resigned but they have not settled our account and now again become active. What action can be taken.

Ans: It's unfortunate that you're facing this situation with your former employer. Gather all relevant documentation related to your employment, including your appointment letter, emails, WhatsApp messages, and any other communication regarding salary payments and promises made by the company. Having a record of these interactions will be crucial for any potential legal action. Reach out to the company via email or written correspondence to remind them of the outstanding salary payments and request immediate settlement of your dues. Clearly outline the amount owed, the period for which you worked without compensation, and any promises or assurances made by the company regarding payment. If the company fails to respond or refuses to settle your dues, consider seeking legal advice from a labor lawyer or legal aid organization. They can assess your situation, advise you on your rights and options, and help you take appropriate legal action to recover your unpaid wages. Depending on the jurisdiction and labor laws in your area, you may have the option to file a formal complaint or grievance with the relevant labor department or regulatory authority. Provide them with all relevant documentation and information about your case, and they may investigate the matter and take action against the company if warranted. If you see other employees are also affected by unpaid wages or mistreatment by the company, then consider organizing collectively to amplify your voices and increase pressure on the company to resolve the issue. This could involve forming a group, sharing information and resources, and coordinating efforts to seek redress through legal channels or public advocacy. Throughout this process, it's important to protect your rights and avoid taking any actions that could jeopardize your legal standing or future claims against the company. Keep records of all communications, consult with legal experts, and be prepared to assert your rights if necessary. Stay informed about any developments related to the company, including changes in ownership, financial status, or legal proceedings. This information may affect your ability to recover unpaid wages or seek other forms of recourse.

Remember that recovering unpaid wages can be a complex and challenging process, but by taking proactive steps, seeking appropriate guidance, and advocating for your rights, you can increase your chances of obtaining a favorable outcome.
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Asked by Anonymous - Nov 14, 2024Hindi
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Dear sir, I have been working in pharma segment n I have a terrible experience to share almost 5–6 companies have not settle my genuine dues of salaries and expenses. Some are almost 5–8 yrs old n the latest one is almost 75 days old. Some have some special statements written on there appointment letters, which gives them freedom , and others seem to have no concerns at all. I cannot take legal action against them as a don't have so much money. In the latest episode, my company says that they cannot give me my full n final till the time stockist does not pays his dues to the company. In this regards, I want to inform you that 1 I have no dues on the stockist 2 I have returned all my property 3 companies settlement time is of 45 days 4 after fighting so long I have received one part as salary but expenses are still held they say that they will only settle my dues when the stockist pays his pending payments. 1 I have no dues certificate from all stockists 2 And my views on this is 1 I'm not in organization now, how am I responsibile for the old payments of my time, because it's responsibility of the current staff to follow up for his secondary n payments 2 party's due on company is around rs 46000 but stockist already has non sellable goods of rs 70000 in his shelf . 3 the current staff do not meet the stockist, help in liquidation of stocks or clearing payments. Kindly help me with your detailed view in how to get my ffs from this organization as I have 1 written several times on main with no proper response. 2 I have called many times to hr n concerned managers but they repeat same thing, ie payments of one stockist Kindly help me with solution to get my ffs from this n old pharma companies. Thanks Jasvinder singh
Ans: You need legal support. Please contact senior advocate Mr. Tanoj Joshi with my reference. Search about him in LINKEDIN.
He is a very good person and he won't charge you much if you give my reference. Please give me the update. Best of luck. MAY GOD BLESS YOU. Professor...........................:)

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Ramalingam

Ramalingam Kalirajan  |7028 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Nov 15, 2024

Asked by Anonymous - Nov 15, 2024Hindi
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Sir, Im 54 yrs, present monthly take home pay in hand of Rs.2.5Lacs after all I.Tax etc. deductions. Car EMI till Dec 2026 to be paid will be Rs.5000 per month. Have Health Insurance cover for 25 lacs, Term Insurance for Rs.2Crores but no Life Insurance cover. Monthly SIP is Rs.1Lac. Had made a lump-sum investment of Rs.55Lacs in Mutual Fund which is now valued around Rs.75Lacs. I'm not able to save anything beyond this due to family responsibilities and have to start repaying my son's education loan of Rs.20Lacs which would commence after 2.5 years (as he is studying now). Can you please let me know how much of corpus I might have at the time of my retirement if I continue to work till the age of 58years? Regards
Ans: Based on the information you’ve shared, let us assess your situation and provide insights into your potential retirement corpus.

Current Financial Position
Take-home salary: Rs. 2.5 Lacs per month
Car EMI: Rs. 5,000 per month (ending Dec 2026)
Health insurance: Rs. 25 Lacs
Term insurance: Rs. 2 Crores
Monthly SIP: Rs. 1 Lac
Lump-sum investment in mutual funds: Rs. 75 Lacs (current value)
Education loan repayment: Rs. 20 Lacs starting after 2.5 years
Retirement age: 58 years (4 years from now)
Assumptions for Projection
Your SIP of Rs. 1 Lac per month continues until retirement.
Your lump-sum mutual fund investment grows at an assumed annual rate of 10%.
Monthly SIP investments grow at an assumed annual rate of 10%.
Education loan repayment starts in 2.5 years. Let’s consider this doesn’t disrupt your SIPs.
Estimated Retirement Corpus
1. Growth of Existing Lump-Sum Investment
Current value: Rs. 75 Lacs
Growth for 4 years at 10%: Approximately Rs. 1.1 Crores
2. Future Value of Monthly SIPs
SIP: Rs. 1 Lac per month
Duration: 48 months (4 years)
Growth at 10%: Approximately Rs. 63 Lacs
Total Corpus at Retirement
Lump-sum mutual fund value: Rs. 1.1 Crores
SIP investments: Rs. 63 Lacs
Total corpus: Rs. 1.73 Crores
Recommendations
Education Loan Repayment: The repayment may require adjustments in your budget. Consider partial withdrawals or rebalancing investments if necessary to avoid disrupting your SIPs.
Increasing Savings: Once your car loan ends in 2026, channel the Rs. 5,000 EMI into SIPs to further enhance your corpus.
Financial Review: Regularly review your investments and retirement goals with a Certified Financial Planner to ensure alignment with market conditions.
Final Insights
If your investments grow at an average rate of 10%, you may have a retirement corpus of approximately Rs. 1.73 Crores by age 58. Focus on maintaining your SIP contributions and ensuring liquidity to manage upcoming education loan repayments effectively.

Best Regards,
K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

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