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The HR Department of my IT company has been tasked with issuing new appointment letters to all employees due to a change in company structure. With the dissolution of the X company, some employees will be transferred to Y and some to Z. What is the best way to handle this situation? Any advice would be appreciated.
Could you provide more information, such as the age of X company and its employees, the reason for its closure, whether Y and Z are related to X, and if X is registered with any statutory bodies such as PF or ESIC?
The services can be transferred from X company with the same terms and conditions in place. Alternatively, you can consider having the employee sign a full and final settlement with X company and then issue a new appointment for the same services in another company. For this, you should obtain an application for employment from the employee on behalf of the new company, specifying that they have completed their full and final settlement.
Thank you for getting back to us with your inquiry. Our company has been in existence for 8 years. In the last two years, the business has grown and 95% of our employees have been with us for 1 to 2 years. Unfortunately, the government has decided not to select our company X for any of its projects. X is a sister concern of Y and Z. Warmest regards
It has been observed that 95% of the employees have been with the organization for one or two years, while the remaining 5% have been with the company for more than two years. Considering that the company is 8 years old, it is advisable to merge it with another organization or take it over, in order to ensure that all statutory benefits such as PF, ESIC, POB, Gratuity, and MB Act are applicable to the employees. Furthermore, the employees can be transferred to the new company without any detriment to their privileges or statutory dues.
It appears that if the merger does not take place, a transfer letter will be issued. However, if the merger does occur, a new appointment letter with full details of the terms and conditions will be provided.
Your advice was very beneficial. The merger is going ahead. I am nearly ready to make a decision. When I am creating a new appointment letter, should I use the same terms and conditions as the previous one and keep the same date? Should I also modify the other letters issued to staff such as increment and promotion letters? Thank you.
You do not need to alter any of the documents issued by the former organization; the document should be subsequent to all the prior documents issued by the organization, the document will be new.