Pf,labour Act,factory Act
Admin & Hr Executive
In our Co. employees are getting full and final with in 45 days though they have serve notice as per the company's norm.Pls. advise. what would be the criteria of Full and Final.
In my last Co. if employee has given notice of leaving than on his final day Co. was giving his full and final with releiving letter.
30th December 2009 From India, Delhi
Full final should be done on the last day . If he has given notice , on the last day of notice period all his /her formalities should be done including relieving or exp letter as well as full and final payment.
30th December 2009 From India, Pune
Please help to clarify my doubt as below
If an employee serves 17 days notice period and co is paying him/her 14 days salary (deducted 14 days Notice Recovery and 3 days LOP)
whether we need to deduct proportinate amount of PF only for 14 days or for full amount as it is fixed at max rs780/- (basic+da is coming more than rs6500 even for 14 days)
2nd January 2010 From India, Bangalore
PF is to deducted on the basic salary you pay the employee for the 14days. I understand the predicament. You may find the employee drawing Rs. 6500/- and more as basic salary for 14 days. It is imperative that you deduct the maximum PF on the basic salary calculated.
5th January 2010
Please refer your company full and final settlement policy. Generally PF is deducted on basic (basic+DA /VDA)earnings. If your company has a sealing amount of Rs. 780/- then deduct either Rs. 780/- or the pf % on the basic earning for the month whicher less.
20th January 2010 From India, Hyderabad
Full and Final settlement is the last step before providing relieving certificate. Therefore as a practice it should be given on the last date of service. However, there is no law governing this issue.
However, it is advisable to issue the letter on the last day of service.
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20th January 2010 From India, Calcutta