Settlenment query

Vartica · #1 (**permalink**) 28-01-2008, 12:06 PM

Dear All,

There is an organisation which has a policy wherein if notice period is not served the full and final settlement is not given.Isn't this against a law of some sort? Please advise. This is good information.Thanks,

Regards,
Vartica

Vartica · #2 (**permalink**) 29-01-2008, 05:25 PM

Hi

I did'nt receive any sort ov response.Please help.

prashant1314 · #3 (**permalink**) 02-02-2008, 11:34 PM

Notice period is nothing but the time to recruit new person & train that person & handover the responsibilities.

So some time has to be completed

Regards
prashant
09890003851

gvivekraj · #4 (**permalink**) 23-02-2008, 05:47 PM

Hi,

Notice perios as per the policy has to be served atleast 30 days. So when you havent served the notice period the same will be deducted. For example you need to complete 30 days of notice period and you served only 25 days. so those 5 days will be recovered from your full and final settlment and the rest whetever you have served will be paid to you. There is no such thing as your full and final settlment is blocked and they will not pay it to you.

Regards,
Vivek

tsivasankaran · #5 (**permalink**) 23-02-2008, 06:05 PM

If notice period is not served, legally, the management can deduct the amount equivalent to the shortfall of notice period. This is the legal position.

But, you also need to complete formalities like NO Due certificate, handing over etc. If one has not obtained No due certificate, then the organisation can say that they can not settle the dues unless the employee completes the formalities

Siva

gvivekraj · #6 (**permalink**) 23-02-2008, 10:14 PM

Hi,

There is no policy as such the employee will not be paid his full and final settlment if his notice peirod is not served; because there are lot of component that are to be paid to the employee; but if you havent served the notice period you need to pay your 30 days of your basic salary to your employer.

Regards,
Vivek

Thread Tools	Search this Thread
Show Printable Version Email this Page	Search this Thread: Advanced Search
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode