Full And Final Settlement - Notice Period Deduction? - CiteHR
Neer300182
Hr, Legal Compliance & Er-ir
Deepa_Shetty
Hr & Admin
Vidyashankar
Assistant Personnel Manager
Vkokamthankar
Asst. General Manager - Hr
Sharmaneesu
Employee
Priti.mer
Human Resource
PradnyaL
Sr. Executive - Hr & Admin
GAYA16
Hr Executive
+4 Others

Cite.Co is a repository of information created by your industry peers and experienced seniors sharing their experience and insights.
Join Us and help by adding your inputs. Contributions From Other Members Follow Below...
Hi All
I have some doubs over Full and Final settlement Kindly clear
1if company does cost cut less say 10% per month continuously and if an employee leaves the organization can we give cost cut in Fand F
2 notice period deduction is calculated on gross or basic

Dear garima, cost cutting is applicable to all, so even if an employee leaves he is also eligible for cost cutting. and F n F is calucalated on basic..
Dear Garima,
Good Afternoon!!!
1. Cost cutting is applicable on him
2. F & F is caluculated on Gross salary as if he is serving you proper notice then as per terms of appointment he deserves gross salary not basic salary or it be considered on the basis of appointment letter terms & conditions.

Dear Karima,
F&F Full final settlement is means employee resign organistation from date of leaving to be calculate. as company rules based on to be calculate . may be 30 days. ifu want format i will forwarded to you short while

Dear Karima, Cost cutting is applicable on him and Notice period deduction is on basic only Regards,
Hi,
Could anybody please tell me that when an employee give his/her resignation and what if their respective manager has:
1) Accepted the resignation.
2) Not accepted the resignation.
Pleae clarify that if the resignation had not been accepted, what steps needs to be taken being an employer ?

Dear seshathri, will you please forward the format of full & final settlement? I want recheck it with the format we use in our company & even i would like to make some changes if required.
Dear Amit,
1. if resignation is accepted, exit formalities will be completed as per the set processes and employee wil be relieved properly.
2. if not accepted, you may not relieve the employee. although noone wait for your acceptance of resignation. if person has made his mind to quit there is no point to keep him inside the organisation, as he may affect badly.
usually prople put on paper after deciding every thing as what step they will take if org will not accept the resignation.
there are many org take people without having relieved properly from previous employer only if the person has a worth.
regards,

Dear Friends,
Full and Final settlement contains, leave encashment and Salary.
1) If the person serve his notice period, he will get full salary as regular, if he is having any leave balance (not encashed previously), these leaves will be encashed in full & final, leave encashment will be calculated on basic.
2) If the person is not able to serve his notice period, for example he has given only 15 days notice period, as per their company policy he has to give 30 days notice period, In this case he will get 15 days salary only, remaining 15 days will be Loss of Pay, if he gives 30 days will get full salary, leave encashment will be calculated as usual.
Note: Salary part will be calculated on Gross for Notice Period.
Thanks & Regards,
Ramesh.Varuganti
Sr.Hr.Executive

Dear Priyanka, Good afternoon!! Kindly specify what kind of help you need in F & F settlement.

Please Login To Add Reply






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2020 Cite.Co™