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Mahesh Padmanabhan |120 Answers |Ask -Follow

Tax Expert - Answered on Jun 06, 2023

Mahesh Padmanabhan has specialised in payroll, personal and corporate taxation for more than two and a half decades, enabling him to provide practical, realistic and correct advice to his clients.
He is a member of The Institute of Chartered Accountants of India and has a degree in cost accounting from the Institute of Cost Accountants of India.
He is also a qualified information systems auditor. ... more

Question by Krishnamurti on May 27, 2023Hindi

Money

Sirji I took VRS and in sanction I was a loser by what was described as statutory company rules allowed me retirement based on minimum 90 days letter of notice. It said I had requested for relief on 31st December and Notice period was short to disallow the short notice of less than a month. Sirji I'm not allowed even arguably any scope of lost settlement in settlement order and hence I have a desire to know your reputed comments for advice WhatsApp number SUBRAMANIAM.K

Ans: Hi Mr. Krishnamurti
I have not understood your query as it does not bring out the facts clearly. Regardless, i would state in broad terms how the VRS tax exemption works.

Section 10(10C) of the Income Tax Act and Rule 2BA of the Income Tax Rules define the exemption of amount received on VRS and the conditions to be met. If you meet the criteria as laid down therein then you would be eligible to consider the exemption.

I did not understand your point on min 90 day notice period. Is that applicable to all employees opting for VRS or limited to you? I state this because VRS rules have to be common for all and there cannot be variations to the policy and different implementation to different classes of employees.

I guess you may need to take the full set of documents either to your CA or a lawyer to evaluate if there is any legal flaw in the manner of implementation of the VRS scheme.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Hello Sir/Madam, This has been a practice of my company to delay the Full & Final settlement for employees who resign from the company. The final settlement along with the experience letters will be received after almost 2 months of leaving the organisation. This is the case with normal employees who serve three months notice period. These 2 months are very chaotic as the new company keeps requesting for the experience letters. There is no specific reason cited by the organisation for the delay in making the settlement. Sometimes the reasons seem petty. As a manager, I know this is wrong but I was helpless. 3 months back, our organisation had laid off many employees including me. They informed us that we will be getting three months salary as severance pay. The first two months were credited on time i.e 1st of each month. However, the third month payment has been stopped. They informed us it will be settled with the F&F settlement. There were no timelines mentioned to us. There is no letter issued to us - Neither laptop acceptance or resignation acceptance. I am getting job offers but they expect a firm date for joining along with the experience letters. I am not in position to furnish them these details. What can I do in this case? The company that I worked for is a BSE listed firm with strong financials.

Ans: Dear

I can understand your situation. What ai would suggest is better open and transparent with your potential employer, show them your resignation letter and the salary credited. I am sure they will appreciate.

All the best.

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Workplace Expert - Answered on Feb 06, 2024

Asked by Anonymous - Oct 20, 2023Hindi

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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

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Asked by Anonymous - Feb 12, 2024Hindi

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Dear Sir, I resigned my previous company on 12th Oct-23 and got no dues on 28th oct-23 and send it for my full and final payment. Full fill all company formalities. But still today, my previous company not giving my full and final settlement. I had approached so many times to HR and chairman of the company also. But they are not responding. What action should I took so that i get my full and final amount? There is remarkable amount for full and final settlement. Regards

Ans: Dear

Try as much as possible to talk to them understand their concerns. You may take your wife and family along with you for meeting to put emotional pressure.

All the best.

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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!

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Hello sir, I have spot resigned from Idfc First Bank without serving notice period and in offer letter it was mentioned about 45 days notice period to be served and now they are asking the recovery of 90 days than too they wont issue me a releiving letter.Please guide me what should i do

Ans: Dear Mr.Aman

Any deductions can happen only as per appointment letter. Suggest you take it up with HR.

All the best.

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Suggest you explore role shift in your own bank or explore joining private sector bank.

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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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