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Name of company STATEMENT OF FULL AND FINAL SETTLEMENT Date : 03/09/07 Name Emp. Code Designation Foreman (Electrical) Date of Joining Date of Resignation Date of Relieving Period of Service 1030 Total Days ( 33 Months &26 Days ) (A) SALARY Nos. of day present 4 Days I (A) Spl. Allowance Rs. Amounts (B) Deduction Amounts Rs. 1 Basic 13608 2268 1 Provident funds 272 2 Educational allowance 200 33 2 Professional tax 0 3 Convence Allowance 3022 504 3 T.D.S. 0 4 Medical Fac/Allo. - - 4 Accommodation Charges 170 HRA 5 Advance if any 5 Books & Perdl 35569 Corp Attire All. (Uniform & Washing P.F. 6 Spl. Allowance 13608 6 Electricity 7 7 Other deduction Total = 16830 51982 Total = 442 Sub Payable Salary (A-B) Rs. 51540 Description Amounts (Rs.) 51540 II (B) Reimbursement 1 Transportation Exp. 800 133 2 Medical 400 67 3 Accommodation 1021 170 4 Uniform Allowance 750 125 5 Magazine 0 0 6 LTA 1134 189 7 EXGRATIA 1134 189 Total 5238 873 Sub total Part - I + II = 52413 Total = Total = 52413 (C) Leave Encasement 1 Number of day 12 2 Basic 13608 3 Amount 5443 (D) LPG Refund 1 Deposit refund 2 Amount Total A+B+C+D = 57856 (E) DEDUCTION 1 Mess payment of BH/PG 0 2 Service Bond 0 3 Other deduction 0 4 Notice pay for No. of Days 0 5 12% PF On Leave Encasement 653 6 Vehicle 0 7 Temple + Club 51 Total 704 Final cash payment(D-E) 57152 I certify that all the dues are cleared towards full and final settlement of the Account Department Prepared by Checked By Authorised Signatory for Account use only Earning Description Amount (Rs.) (a) (b) (c) (d) Deduction (a) (b) Net cash paid
Dear Ramya, Technically we say it as buying out the notice period , if the employee doesnt want to serve the notice period or his new organisation will pay on the emplyees behalf.In case if employee has taken any loans from the company, then in the F&F settlement his total compnesarion will be settled accordingly and will be given the due amount. Regards Rubi
Dear All, I have a query. If an employee is leaving an organisation in the mid of a month without serving notice period and the organisation decides not to recover the notice period, but also not to pay the number of days the person worked for and restrict the amount, is the process legal and adhering to the compliance? If yes, can you please send me the link where I can get the legal procedures for the same. Thank you. Regards, Subha Found This Useful? +Vote Up This Page Via Google. Why Vote? User validation is extremely important for good content to prosper. | 1215 views5 replies Knowledgebase Categories Popular Discussions |
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