Dear all, Can anyone please fwd me the full & final settlement format where in ultimately the employeee has to pay back to the employer.(whats the technical word used to describe it)
From India, Hyderabad
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From India, Hyderabad
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Technically, we refer to it as buying out the notice period if the employee doesn't want to serve the notice period or if their new organization will pay on the employee's behalf. In case the employee has taken any loans from the company, then in the Full & Final (F&F) settlement, their total compensation will be settled accordingly, and the due amount will be given.
Regards,
Rubi
From India, Bangalore
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1Regards,
Rubi
From India, Bangalore
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If an employee has to pay back to the company, we call it "F&F recovery settlement." We provide them with a recovery letter along with the F&F calculation sheet, which contains all the necessary details.
Thank you.
From India, Delhi
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Thank you.
From India, Delhi
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Dear All, I have a query. If an employee leaves an organization in the middle of a month without serving the notice period, and the organization decides not to recover the notice period but also not to pay for the number of days the person worked, is this process legal and compliant? If yes, can you please send me the link where I can find the legal procedures for the same?
Thank you.
Regards, Subha
From India, Bhubaneswar
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Thank you.
Regards, Subha
From India, Bhubaneswar
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Full n final settlement.doc