Preeti Jawadekar Started The Discussion:
Dear Seniors
Can you please elaborate if there are any rules prescribed by any laws regarding preparing full and final settlement of an employee? Or is it depended on Management policies? If there are no specific rules / policies related to full and final settlement what are the factors that are to be considered while preparing full and final settlement
Posted 2nd April 2012 From India, Pune
Dear Priti,
During Full and Final Settlement, You need to consider the leave (Privilage Leave), Bonus, Gratuity (If completed 5 yrs), and amount if any for the notice period. Rules may varied company to company.

regards
Prakruti
Posted 2nd April 2012 From India, Mumbai
Hai sir If an employee is resigned and relieved in his trainee period, then he is eligible for PL’s and Bonus. He couldn’t complete atleast 6 months also. Chiranajeevi
Posted 3rd April 2012 From India, Hyderabad
Dear preeti
It is not that the policy relating to full and final settlement works in vacume or on the whim of the management. The full and final settlement comprises settlement of all retiral benefits like P.F and gratuity, leave encashment, salary arrears if any and retrenchment compensation, if any payble etc. Therefore the procedures and time lines for payment of these dues are prescribed by the relevant statutes like the P.F Act or Gratuity Act or the Industrial Disputes Act or the Shops Act or the Factories Act etc. You need to go through them for a valid full and final settlement leaving no scope for raising disputes latter.

B.Saikumar
HR & Labour Law Advisor.
Mumbai
09930532927
Posted 3rd April 2012 From India, Mumbai
Dear Sir (s)
I shall be forever grateful if you reply of following...

1)Can an employee get deprived of his remote Location Allowance after service of two years, without any notice, circular, Office order or transfer Order? Even though he is working in same location and designation in the same Company. Employer has right to do the same?
2)If company offer and appoints someone on an special duty/leave pattern like 60:30 on/off, and he changed that special duty pattern without informing to the employee after completion of two succesive years, and when employee quit the company and asking for encashment of his balance/earned leaves, company tells him your duty pattern was changed from last year. Then Company has right to do the same? Even though his salary slip shows his duty pattern is 60:30
3)Can an employee ask for bonus and increment after confirmation of his service in the company? The gross salary was 12,500/- PM +30% North east allowance. (Basic salary was 7,300/-), designation Transport Officer.
4)Is company has right to give bullshitting/ threatening to the employee to continue his service even though he is not getting his committed allowance apart from no increment no bonus in his salary.
5)Is there some other way to collect his balance leave encashment and North East Allowance from employer, without taking any legal remedy?

I shall be highly obliged if someone give a right suggestion.

Thanks & Regards
S.K.Asthana
0956880177
Posted 3rd April 2012 From India, Mumbai
Hi Preeti,

Any F & F, please consider following things
1. Last working Day and served notice period or not
2. No. of days worked in notice period
3. LOP/ absents in that notice period
4. OT
5. Leave (Privilege Leave), Bonus, Gratuity (If completed 5 yrs)
6. Any dues
7. Tax
8. Check for bonds (training bonds)

rgds
Srividya
Posted 4th April 2012 From India, Hyderabad
Dear Saikumar Sir
Thanks a lot on your valuable information.I would still like to know that if in the appointment letter it is not mentioned that the company will deduct say 15 days for not completing clearance or not taking dues and still they are deducting then is it correct
Posted 4th April 2012 From India, Pune
Dear preeti

Your query is notclear as to what is not completing clearance or not taking dues. Further also see whether your company's plocy covers such acts on the part of the employee.

B.Saikumar
Posted 5th April 2012 From India, Mumbai
dear sr. and specially Mr. B.Saikumar,

there is a query regarding full and final settlement of an employee in a pvt Ltd. company, if the company has formulated such type of CTC structure in which Gratuity is a part of monthly CTC. then at the time of full and final settlement, should that employee be given that gratuity part as well which was a part of his monthly CTC (over and above gross salary) inspite of the no. of years of service whether it is 2,3 or 5 years or not.
Becoz normally companies gives gratuity for those employee who worked 5 or more no. of years (but i hope in this case gratuity is not a part of their employee monthly or yearly CTC.

please make it clear to me sir.
i'll be really thankful to you.

thanks
Rishipal
Posted 8th April 2012 From India, Delhi
Dear Rishipal

If the employer is deducting any amount from your salary towards gratuity which is not envisaged under the Gartuity Act in the guise of CTC, then the employer, in my view , has to refund that amount at the time of F&F settlement even though you have not completed five years of service since it is your money to which you are enetitled.Otherwise, no settlement of gratuity is expected when you leave the service before completing five years.

B.Saikumar
HR & Labour Law Advisor
Mumbai
Posted 8th April 2012 From India, Mumbai
Dear All,

Can a company reduces the basic of his employee at the the of end of services just to save money on benifits.is it legal or no right to do so.

1.What are the grauity payment rules for indian workers working abroad (gulf regions).
2.Can a company forefits the grauity of his employee just on the background of misconduct with management.

giriraj sharma
Posted 15th April 2012 From Qatar, Doha
Ms.Sharma

The employer has the freedom to desing the pay structure provided it is not below the minimum wages in so far as the workmen are concerned.
The answer to this query no(1) dpends up on the fact whether the Indian workers retain the employer-employee relationship with the Indian establsihment.
as regards, query no.(2), teh Gartuity Act permits forfeiture depending up on the nature of misconduct and if there is finacial loss.

B.Saikumar
HR & labour Law advisor
Mumbai
Posted 15th April 2012 From India, Mumbai

Dear Sir
Thanks for the above valuable information. But I would like to know whether there is any law /act for payment of full and final settlement dues wherein there is no policy defined by the company as such for the same
Posted 13th January 2013 From India, Pune
dear all any one having governent circular on latest amendments on Gratuity act ( from 15 days to 30 days)
Posted 15th March 2013 From India, Madras
Dear SaiKumar Sir,

Thanks for sharing the above information.

I am trying to find out the exact rules of maximum time delay allowed to Pvt. Ltd. I.T. services firm for full and final settlement of a separated employee.

I got released on 28th May 2013 and still (after more than last 2 months) my F&F (in terms of experience letter and 1 month salary) is not yet done by the organisation although there are absolutely no dues from my side towards the organisation. HR is trying to postpone it with many irrelevant reasons. I think generally it should not take more than 30-45 days after separation.

Can you please guide me on this as how shall I handle the current situation and get my F&F done as early as possible?

Your advice would really be helpful for me.

Thanks & Regards,
Abhay V.
Posted 6th August 2013 From India, Mumbai
Dear Sir,

Greetings!

This is Dhinesh from Chennai, working in a MNC (it is a mould parts manufacturing company), i need your help, presently our management decided to close our factory due to low sales.

So, if they close the company means, what is settlement for employees, what is the calculations?

Kindly help me.

Thanks & Regards

Dhinesh Kannan
98849 07207











Posted 19th November 2013 From India, Chennai
Dear Sir/ Madam,

I Jayesh. I am interior designer. I was working with PVT. LTD. company. There was getting irregular salary of month due to this I resigned from my job. My joining date was 29th sept 2014 and last date in company was 31st oct 2014. That time i didn't have work to handover to the concern person. This thing i discussed with HR.and he said you can leave today also.After getting this confirmation i did proceed for resignation.That time he said, you will get salary after 15th oct 2014 the i contact him he said your FFS will be done after 45 to 60 day.
Please let me know what I do.Am i eligible for FFS rule.
Posted 1st December 2014 From India, Mumbai
Dear Sir

Please help me or suggest me for the below problem

I was working with a reputed firm, after 3.6 years i resigned and as per our company policy notice period is 90 days after confirmation. I served 45 days notice period as and i mailed the same while i send my resignation. At that time HR not created issue but after my 45 days notice period i went to abroad. But after that HR didn't given my full and final settlement even though I repaid my personal loan taken from my company. Then when i asked for relieving letter they asked to pay 48000 rupees . Even though i communicated that my situation is bad they didn't given any consideration and finally they have taken Rs.48000 from my side. In fact my net salary while i am resigning was around Rs.18000 only.

Note: initially they said an amount of rs 15000 once i agreed for that they send a mail that calculation was wrong exact figure is Rs.48000.

Kindly give me a suggestion on it, is it any law to protect employees interest?
Posted 8th January 2015 From India, Kolkata
Kindly suggest....? Need an Expert advice...

How has an Employees claim compensation from Private Limited company if they announced shut OFF within a month time..Is there any Favor from Indian Labor Law or how supportive they are? i.e It's a Partnership Firm, as a Director he conveyed the Decision to their an Employees about his decision of Shut OFF with 30 days Notice period and that respective month Salary alone as consider as F&F (Full & Final Settlement). Now the Employees have plan to demand min 3 months pay as compensation for their survival purpose..

Overall Employees strength is 20 nos. There is no PF deductions over there..

Kindly suggest the way we proceed further with the Director... Looking forward valuable thoughts and guidelines.

Regards,
Ravindran
Posted 13th January 2015 From India, Chennai
Your contract does not specify notice period or it specifies that notice is not required ?
In case it does not specify notice period, as per standing orders one month notice is required to be given , so use that clause
Mahesh
Posted 28th September 2015 From India, Mumbai
Respected all,

I have been an English Language Trainer with British School of language for the past 3 months.
But now, I am quitting my job. I have provided them with 1 month notice as per the conditions of my contract.
The reason for my resign is that the company does not pay remuneration on time. For the 3 constant months i worked here, I did not get paid on time, I had to call the HR after the due date and she would say that she is not in charge of paying employees. Usually, the employees receive it after 22nd of the next month.

I am worried that they will procrastinate likewise when it will come to my Full and final settlement.
I want to be aware of the rules regarding full and final settlement. Though I did list it in my resign letter that my account should be full and finally settled on my relieving day.
Please tell me how long can a company procrastinate an employee's final dues.


Are there any rules that can save me from the same?
Please help . I will be more than thankful.

-Tanya
Posted 17th October 2015 From India, Delhi
Hi, Can any one tell me, maximum duration of FNF payment according to Indian rules. And clause for FNF in a Pvt.Ltd. company.
Posted 24th December 2015 From India, New Delhi
Dear Seniors,

Is it legally binding for a pvt. ltd. company to encash the leaves of an employee at the time of his termination? If so, kindly share the formula for leave encashment as per the statutory compliances, or is it upto the company to calculate it on basic or gross salary?

Regards,
Nishika
Posted 16th February 2016 From India, Delhi
dear sir kindly let me know the process of full & final settlement.if a person takes leave of 5 days during notice period,will it be adjusted against his leave??
Posted 20th April 2016 From India, Kolkata
bdrao 
Respected sir
Iam working ltd company in west Bengal more than 700 employees from july 2007. i get salary in cash up to nov 2010, but now from oct 2010 i get gross salary 19580 basic salary 9900 through bank. (5 and half years pay roll)now last two years we are not get bonus and increment till date. increment and bonus due from last two years, if iam resign from company please advise me how i resign legally and how i get such amount.
thanking you.
Posted 11th May 2016 From India, Kolkata
B.Saikumar
HR & Labour Law Advisor.
Mumbai
09930532927

Sir

I am worked one company last 15 year , i resign my job he accepted and releave me on 31.10.2015 but till now my settlement not pay me like salary , bonus, gratuity, LTA and leave salary. How to get that amount.

regards
panchamurthy
9962969948
Posted 13th June 2016 From India, Ranippettai



 
 
 
 







Found This Useful? +Vote Up This Via Google.  

Why Vote? User validation is extremely important for good content to prosper.
Disclaimer: This network and the advice provided in good faith by our members only facilitates as a direction towards the actions necessary. The advice should be validated by proper consultation with a certified professional. The network or the members providing advice cannot be held liable for any consequences, under any circumstances.

About Us - Advertise - Contact Us - RSS   On Google+  
Copyright 2016 Cite.Communities (CiteHR.Com) User contributions are owned by the contributor.
Privacy Policy | Disclaimer | Terms Of Service
Facebook Page | Follow Us On Twitter | Linkedin Network