Master_REPORT_On_Compensation_and_Benefi

4.1 Compensation and Benefits system
4.1.1 Promotion
A set of rules and guidelines set forth by a company or organization that outlines how
promotion procedures will be handled.
In addition it is policy to promote from within the organization when a vacancy occurs,
proving there are qualified candidates available. Promotions are only given for staff who will
undertake significantly increased responsibilities and additional tasks.
4.1.2 Retirement
Retirement means the end of an employee’s servicing line. In Bangladesh the retirement age
for government employee’s 57 years and for university teachers 65 years. But an employee
can go in retirement at the age of 55 years if he wishes. In another word, retirement means
draw to an end of servicing life by an employee’s of his service. But this does not mean that
after this age people suddenly become useless and unfit for work. At the time of retirement,
the organization should provide provident fund, gratuity and other facilities to the employees
until they alive.
In case of DSK if the authority seems the need of services of that employee it can extend
his/her servicing life for more 5 years though the retirement age of DSK employee is
generally 60 years. But in this case the employee has to go yearly contract service. But in the
case of project service after completing or finishing the project the service of the employees
generally comes to an end but if the organization extends the project’s period then their
servicing life also extend for that project period.
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