Datastructures, Computer Network
What is the length of notice period? 1 month or even longer? In the normal course, any shortfall in the notice period will be adjusted from Earned Leave balance in the employee's credit. In case of your employee, let us assume the notice period is 1 month, then, as the employee had worked for only 15 days, the balance 15 days shortfall may be adjusted towards deducting Earned Leave in his credit. Hope you are clear.
3rd July 2013 From India, Vijayawada
3rd July 2013 From India, Ahmadabad
#AnonymousShraddhavaan labhate gnanam!
can you please share any legal inference for adjusting of pending leave against shortfall in notice. my employment contract is silent about any such adjustment and my company does not adjust for unutilised earned leaves and demands for full i.e. gross payment.
Thanks in advance
18th September 2016 From India, Mumbai
(Basic*Number of shortfall days)/26.
Incase if you are waiving off the notice period based on the encashable leaves, the remaining shortfall days can be considered for calculation, if any.
1st December 2016 From India, Madras
Can anyone help me.
I am serving notice period of 90 days in my current company. I want to serve notice period only for 30 days and want to payout for 60 days.
So how much I need to payout to the company.
As per offer letter I need to pay only basic but not sure.
By basic pm is 20K and EL is 5.
Please do the needful.
Below is the clause form my Offer Letter and a ticket:
"If early release accepted by Business, the number of Notice period shortfall days will be recovered from your Full and Final settlement considering the Basic pay."
1. Either party can terminate this employment by serving a notice of 90 days on the other. The Company may at its absolute
discretion make a payment representing salary (basic) in lieu of notice of termination. However, for cause like misconduct,
gross negligence, willful insubordination or disobedience, misbehavior or non-performance, Tech Mahindra Limited. may
terminate your services with immediate notice. The Company shall have the right to place you under suspension on
subsistence allowance and benefits as applicable pending any investigation into potential dishonesty, gross misconduct,
misappropriation, gross negligence, fraud or other circumstances, which expressly provides for termination of your
employment which if proved, would entitle The Company to dismiss your services summarily.
2. In the event of your serving on The Company a notice of termination of employment by submitting a resignation letter, your
release will be governed by the relevant policies in force at that point in time, subject to satisfactory handing over of your
duties, responsibilities, Company documents, Company assets, etc. to the relevant parties.
3. In case of Associates who are governed by any other service agreement(s) for serving a minimum stipulated period, the
associate will need to mandatorily fulfill requirements of Clause 3(a) along with applicable exit policy clauses under stipulated
service period agreed to and provided therein.
18th January 2017
"due to some medical complications with my family i am not able to concentrate on work so i decided to take brake in my career. I couldn't continue my work with an immediate effect."
I had a discussion with HR n manager on the same day, as i am having genuine reasons they agreed for buyout option(Submitted all company properties to HR at the same time).
I am not sure how BuyOut is calculated - In this i need to pay Gross salary of 3 months or only basic?
Please help me here.
31st March 2018 From India, Hyderabad