1. #1
    Unregistered

    How can I terminate the rules made long ago?

    My Company was started by my great grandfather. He was a polite and sentimental employer. He made a commitment to one of the employee to give him a 3/4th part of profit every year. But neither my grandfather nor the employee is any more. But his son-in-law is asking for the same. Is this legal or not?

  2. #2
    Srishti Array
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    Re: How can I terminate the rules made long ago?

    hello,
    well if it is written on paper then it is legal
    then you have to give him the promised amount of profit
    if it is not mentioned in paper work then you ammend the rules
    but you must talk to the son in law avilable at the present time
    make a deal that satisfies both the party
    Good luck

  3. #3
    manojbadoniya Array
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    Re: How can I terminate the rules made long ago?

    Dear this is absolutely illegal because that was the previous time when you grandfather used to ask only for - 3/4 profit of the complete financial status of the company and if the company getting double profit then it may be a huge loss for you and that was a separate time but the currently, you would everywhere face the competitive atmosphere in the market and if your product does not contains good quality with low prices then you would not get the market easily under yourself so that dear you should try to make him understand that dear it was a past time which has been really passed and you are also well educated and qualified then why are you asking for the same which was decided by my grandfather and i may never happen because i am the current owner of this company and everything would be done in this company according to my new rules and new regulations and if he try to harras you then you should make him understand that if you would not understand the new rules and would not follow then i may fire you but do not be arrogant and so angry otherwise it may affect your personal relatioanship also

    All the best

  4. #4
    Rituja Array
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    Re: How can I terminate the rules made long ago?

    Hello,

    I can understand the present situation.Giving away 3/4th part of profit is a big deal! Now you have to check whether the promise was made verbally or there was any written paper for the same?If it was done in written form then it is not a promise,but an agreement.IF you have such document ,open it up and see the words that has been used in the agreement.If it is mentioned that even after your grandfathers death,his company will give 3/4th of profit to that particular employee and in his absence to his family,then you have to pay his son-in -law.If again it is not mentioned particularly about the family of that particular employee that they will receive such amount after that employees death,then your company is not liable to give any amount to the son in law.This is because the agreement was valid till that employee was alive.The company has no liability after his death.You need to check the words minutely and understand what it expresses.In case,the promise was made verbally,then it involves a number of complications.Consult a good lawyer in that case.He will guide you what to do next.

  5. #5
    Ashok Array
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    Re: How can I terminate the rules made long ago?

    Quote Originally Posted by Unregistered View Post
    My Company was started by my great grandfather. He was a polite and sentimental employer. He made a commitment to one of the employee to give him a 3/4th part of profit every year. But neither my grandfather nor the employee is any more. But his son-in-law is asking for the same. Is this legal or not?
    Dear Aspirant,

    Really,it is a great contribution of your great grand father to a single employee of the company.It depends upon the provision of the Bye-laws of the company pertaining to the particular employees.You can understand this point this way.See an employee is working somewhere either in the govt.concerned or in private concerned.As long as the employee works,he gets salary & other benifits.He/She gets post retirement benifits.If the concerned employee dies during the service period,an legal heir of the employee gets service on the basis of compensation in all govt.sectors,but not in all pvt.sectors.Likewise the loyality is paid to legal heirs of the concerned benificiaries,because there is provision in the rule for the same.

    So if your great grand father has mentioned it in the bye-laws that 3/4th part of the profit will be continued to be paid to legal heirs of the particular employees,then the son-in-law is eligible to get the said part of the profit other wise it is not applicable.You can consult your legal advisor for more details,besides going through the terms & conditions of the bye-laws of the company.

    Thanks & good luck.

    Ashok..

  6. #6
    pansytulip Array
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    Re: How can I terminate the rules made long ago?

    Hi friend

    1) If your great grandfather had made a commitment and had legally promised to give the employee 3/4th profit, then you have to follow the same.
    2) But as both of them have died , I think you can make an amendment to this law if possible. Consult your lawyer for the same.
    3) If it was his son, then it would have been legal to give him the profits; but I don't think his son-in-law has this right.
    4) For more clarity consult your lawyer.
    5) I am sure he will help you out in this matter.
    6) So don't worry friend, I think you will certainly get a solution to this matter and thus will be able to take full profits.

    good luck and Thanks

  7. #7
    abhijeet2015 Array
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    Re: How can I terminate the rules made long ago?

    Hi...................,

    Your grandfather has made agreement to an employee.
    If that employee has taken all benefits from the company then no other can sue on his behalf.
    If company has not provided any benefits or any portion of benefit to that individual then also you need to provide.
    Agreement must be in written and must be in valid papers.

    Thanks

  8. #8
    premlata Array
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    Re: How can I terminate the rules made long ago?

    Hey!
    The situation that you are describing needs a lot of knowledge about law. You might have to delve into the intricate details to reach a conclusion. From what my knowledge tells me I can suggest that the employee's son in law cannot force you to give you the profit unless and until he has a written evidence to support the same. The court of law works on evidences and unless and until there is a written document that testifies what you are mentioning the person cannot claim the profit.

    Incase there is a written evidence then you are liable to pay that amount to the employee's son in law. At the same time I am sure that the court of law must be having certain laws to deal with agreements which were made by people who are not alive anymore. The best person to advise you in such a situation is a lawyer. He can guide you the best in this respect.

    Another thing that you can resort to is an out of the court settlement with the concerned person. If he agrees then you can ask him to settle for something else rather than 3/4th part of the profit. In this case you will have to make sure that the opposition doesn't consider an out of the court settlement as your weakness. He should not feel that if you are resorting to an out of court settlement then he can take advantage of you.

    You will have to analyze the pros and cons of both the situations and then decide your course of action. I am sure things will work out in your favour. All the best!

  9. #9
    Boss Array
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    Re: How can I terminate the rules made long ago?

    Really,it is nice contribution of your great grand father to one worker of the corporate.It depends upon the supply of the Bye-laws of the corporate bearing on the actual workers.You can perceive this time this fashion.See associate worker is functioning somewhere either within the govt.concerned or privately involved.As long because the worker works,he gets regular payment & alternative advantages.

    He/She gets post retirement advantages.If the involved worker dies throughout the service amount,an legal heir of the worker gets service on the idea of compensation altogether govt.sectors,but not altogether pvt.sectors.Likewise the loyalty is paid to legal heirs of the involved beneficiaries,because there's provision within the rule for constant.

    Therefore if your nice grand father has mentioned it within the bye-laws that 3/4th a part of the profit are going to be continuing to be paid to legal heirs of the actual workers,then the in-law is eligible to urge the same a part of the profit alternative wise it's not applicable.You can consult your legal authority for additional details,besides probing the terms &; conditions of the bye-laws of the corporate.
    I will perceive this scenario.Giving away 3/4th a part of profit may be a huge deal! currently you've got to envision whether or not the promise was created verbally or there was any written paper for the same?If it had been wiped out written kind then it's not a promise,but associate agreement.IF you've got such document ,open it up and see the words that has been employed in the agreement.If it's mentioned that even once your grandfathers death,his company can offer 3/4th of profit thereto explicit worker and in his absence to his family,then you've got to pay his son-in -law.If once more it's not mentioned notably regarding the family of that specific worker that they'll receive such quantity then workers death,then your company isn't prone to offer any quantity to the son in law.This is as a result of the agreement was valid until that worker was alive.The company has no liability once his death.You need to envision the words circumstantially and perceive what it expresses.In case,the promise was created verbally,then it involves variety of complications.Consult a decent attorney therein case.He can guide you what to try to to next.

    Dear this can be completely contraband as a result of that was the previous time after you grandpa accustomed raise just for - 3/4 profit of the entire monetary standing of the corporate and if the corporate obtaining double profit then it's going to be a large loss for you which was a separate time however the presently, you'd all over face the competitive atmosphere within the market and that if your product doesn't contains sensible quality with low costs then you'd not get the market simply beneath yourself in order that expensive you must try and create him perceive that expensive it had been a diversion that has been extremely passed and are conjointly well educated and qualified then why are you inquiring for constant that was determined by my grandpa and could ne'er happen as a result of i'm the present owner of this company and everything would be wiped out this company in keeping with my new rules and new laws and if he try and harras you then you must create him perceive that if you'd not perceive the new rules and wouldn't follow then i may hearth you however don't be chesty and then angry otherwise it's going to have an effect on your relationship conjointly

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