No Tags Found!

Dear friends,

I am in serious need of help as I am not able to calculate the exact F&F amount.

Would appreciate if someone could help me on this. I will put forth the complete scenario.

An employee joins on 15 Sep,2010 with a CTC of 3.5 lacs p.a. and from April,2011 onwards the CTC was hiked to 3.7 lacs p.a.

Also, he had 3 compensatory off's pending with him since he worked on holidays.

As per the corporate policy, employee is eligible for 7 Sick leaves, 7 Casual Leaves and 21 Priviledged Leveas per annum. Only PL's are encashable.

Employee has submitted the resignation on 23 Nov,2011 and has to serve the notice of 45 days as per policy and he did so.

Employee was on leave from 3 Nov,2011 to 14 Nov,2011 due to medical grounds. He had already used all his sick leaves but he had his Casual Leaves and 3 comp off's (Would there be any deduction in salary for being on leave)

Employee was relieved from the organisation on 6 Jan,2012.

Now, what would be the total F&F amount which needs to be paid to the employee.

Please help in this regard.

Thanks in advance.

From India, Delhi

you mention the ctc. its good but for the calculation you have to considered Last drawn salary.
and for leave pl is given earned upt o the last date of releaving. and cl and sl is calculated on the proporationate based like. if cl is given for current year 12 than if is worked up to the nov. then he is eligable for 11 days cl if he get more than that then you may recoved from pl .same with sl. if he used the coff then its ok no matter to calculate.
what are the other' like ltc medical you have to calculate as per your company polices.

From India, Surat
Hi Mahesh and other friends, Please find the enclosed attachment of heads for the calculation purpose. Awaiting a quick response on the same. Rgrds
From India, Delhi
Attached Files (Download Requires Membership)
File Type: doc Heads.doc (34.0 KB, 1022 views)

Dear HR’s... Please help me in the above case...request your utmost time and response.
From India, Delhi

Dear Saiajith
You have consider only Basic and Special Allowance for calculating the F&F Settlement Calculation. As he has resigned the job he is not entitled any other settlement except his leave encashment. After 2 months period you can give him a PF Forms and clear his PF dues.

From India, Kumbakonam
Dear Sajith,
I went through the details that you have mentioned above, according to it you have mentioned the employee has resigned on 23rd November and he has also served entire notice period and he was on leave on 3rd November and 14th November, so it is before he had resigned, In addition to this you have mentioned that only PL is encashed, so question of paying him for the Comp off's or casual leave doesn't arise,
He shall be paid whatever his salary would be there till the last day of working and also necessary Statutory Deductions shall be done from the Salary to be paid to him in addition to this the PL that are available shall be encashed to him and any other dues payable to him or advances that need to be recovered from him like if he has taken any advance for traveling purpose and the details have not been submitted or loan from company for any personal reason etc.

From India, Khopoli
Dear Friends,
What is the govt regulations on the calculation of the notice pay?
Is there any fixed regulation regarding that from govt of India/Income tax dept of India?
or is it based on the policies made by the company time to time?

From India, Delhi
There is no Government Regulation either from Government of India or Income Tax Department regarding Notice Pay calculation it all depends on the company policy it can vary from company to company.
Only after he has been relieved his PF Form needs to be submitted after two months and the Gratuity can be paid to him immediately that is with in a week's time.

From India, Khopoli

As i feel u can consider the Comp off for those 2 days and no need to any salary deduction for that 2 days..and no need to club with CL and get confused in it..anyhow CL is not encashable..and only PL need to be calculated on pro rata based

From India, Hyderabad
Nicky Kandwal
Dear Sajith,
After considering the details you have mentioned, I would recommend you to give him the following items during the full and final settlement
PL Enchashment amount
Gratuity if he has successfully completed his 5 years of service
Very well said by the seniors that the question of deducting his salary for the leaves he had taken prior to his resignation doesn't arises. If he could have taken a leave after the resignation then you have got the right to deduct his salary but not in present senario and you dont have to consider his comp off during full and final settlement calculation

From United States
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.

Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR

All Copyright And Trademarks in Posts Held By Respective Owners.