Vishwanathsavula
Human Resources..
Hirensoni
Pf,labour Act,factory Act
Trapti
Admin & Hr Executive
Vincentnp
Human Resource
Rajesh Bahuguna
Regional Manager
+4 Others

Thread Started by #trapti

Hi,
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.
Regards,
Trapti
30th December 2009 From India, Delhi
Hi,
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.
Regards,
Trapti
30th December 2009 From India, Delhi
Dear Trapti ,
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
Hi
Full and Final Payment i.e. settlement of service benefits should be done on the last working day it self by the employer if every thing is in order from the side of the employee.
Mohan Rao
Manager HR
30th December 2009 From India, Visakhapatnam
Dear Trapti,
As a principal employer, company will have to force the contractor to maintain ESI & PF returns respectively otherwise penalty shall be charged by authority.
Search the Statutory Check list and maintain it.
Thanks,
Hari Bains
30th December 2009 From India, Delhi
Dear all you have any format of full & final settlement? Please advise me too. Hiren soni executive hr & admin. Ashapura minecehm ltd.
1st January 2010 From India, Ahmadabad
hi Hirensoni, Please find the attached full and final settlement format, which i am following in my Co. You may customize it according to your requirement...!! Regards, Vishwanath
1st January 2010 From India, Hyderabad

Attached Files
Membership is required for download. Create An Account First
File Type: xls FULL AND FINAL SETTLEMENT - FORMAT.xls (181.0 KB, 7994 views)

Dear
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)
Please advise
Bagi
2nd January 2010 From India, Bangalore
Hi If the Basic Plus D.A is working out for more than Rs.6500.00 even for 14 days of service, you have to deduct PF on Rs.6500.00 only. Mohan Rao Manager HR
2nd January 2010 From India, Visakhapatnam
Dear Sir That means need to deduct Rs780/ for 14 days or Rs.780/31*14=Rs.352 If we are deducting Rs780/- for a month we need to deduct proportionate amount of PF for 14 days / Baginesh
4th January 2010 From India, Bangalore
Hi Baginesh,
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
you cannot decrease PF amount...if basic is coming to more than 6500, then PF calculated on it is as per your company rules-780/-. So, you have to deduct 780/- itself.
5th January 2010 From India, Calcutta
Dear Mr. Baginesh,
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
Hi,
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.
We would like to take this oppotunity to introduce us as a legal educational institution based at Kolkata since 1999 with a vision to provide guidance to Law Students. We also provide free legal advice to Companies, Legal Professionals and General Public.
In case of any furhter query please feel free to revert.
Centre for Legal Studies, Kolkata

20th January 2010 From India, Calcutta
Dear, The calculation is simple, You should deduct Rs.780/- fixed amount or 14 days (calculation) whichever is lower. Aryan
9th March 2011 From India, Bangalore
if compnay is not signing in PF form then what we can do can we do compalin in Consumer Court or we can do police complain dear friends pls suggest.
11th April 2016 From India, Vadodara
Dear all
I want to know that what is the actual formula of EL leave calculation of a employee full final settlement.
21st June 2019 From India, Ghaziabad
Reply (Add What You Know) Start New Discussion

Cite.Co - is a repository of information created by your industry peers and experienced seniors. Register Here and help by adding your inputs to this topic/query page.
Prime Sponsor: TALENTEDGE - Certification Courses for career growth from top institutes like IIM / XLRI direct to device (online digital learning)





About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2019 Cite.Co™