vanitavirmani
Hi All, Can anybody provide me Full & final settlement forms? Actually i don’t have idea how to make full & final settlement of employees. Thanks Vanita
From India, Gurgaon
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Amitmhrm
Hr Practices
Vanitavirmani
Asst.mgr.(hr)
Sandeep 1
Hr-executive
+1 Other

Amitmhrm
494

Hi Vanita..
During preparing Full & Final settlement of an employee we have to keep in mind the payable salary and total deduction.
In the payment we have to see the salary status, the leave status and Bonus if payable.. whereas in the deduction part comes the advance taken if any, Notice period recovery if applicable and any other liabilities he has with the organisation.
For example if an employee's gross/month is 10,000 Rs.
He resigns on 1st of July with teh notice period given that 31st of July will be his last working day with teh organisation. If he has 15 earned leaves in his account, then while preparing F & Final statement we have to pay him the complete month salary + earned leaves amount + Bonus if applicable with the HR policy..
Whereas in the deduction side we take of PF amount, ESI deduction and the Notice period if applicable..
Hope now it will be fine with you.
Fine enclosed one of the sample copy of the same..
Regards,
Amit Seth.

From India, Ahmadabad

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M.Peer Mohamed Sardhar
732

Dear Friend,
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M. Peer Mohamed Sardhar
93831 93832

From India, Coimbatore
Sandeep 1
Hi I hyave one queri reg" full & finnal. My Org say that — — — Only Bonus is given but no EX-GRATIA is for the current year for leaving candidate. Is that a right(rule) ? Rd Sandeep
From India, Pune
Amitmhrm
494

Hi Deepa..
Now a days most of the companies fix an amount of Bonus instead of calculations and all and do add that in one's CTC..
That fixed bonus amount is termed as Ex-Gratia.. which is been paid at the time of Deepawali on pro-rata basis...
Dear Sandeep,
Company should pay that Ex-Gratia to resigned employees during preparation of their Full & Final settlement on pro-rata basis... It might be company policy but most of the company do pay it also...
Regards,
Amit Seth.

From India, Ahmadabad
rakhisingh
hiiii everyone, Good one formats posted,,,really appreciable but can anyone help me out wid the staff settlement or clearance form. Rgds Rakhi
From India, Delhi

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