ramya_pudi Started The Discussion:
Dear all, Can anyone please fwd me the full & final settlement format where in ultimately the employeee has to pay back to the employer.(whats the technical word used to describe it)
6th November 2011 From India, Hyderabad

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
6th November 2011 From India, Khopoli
Hi Ramya, Please find the F&F format.
8th November 2011 From India, Madras
Attached Files
File Type: xls F&F FORMAT.xls (32.0 KB, 310 views)
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
8th November 2011 From India, Bangalore
Dear Ramya,
Greettring for the day.
If employee has to pay back to company, we called it "F&F recovery settlement".
We given him a recovery letter along with the f&f calculation sheet in which all the details are available.
9th November 2011 From India, Delhi
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
3rd May 2012 From India, Bhubaneswar
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