Full & Final Settlement is hold amount of employee, Which is payable to employee from company side. It is include salary, Leave encasement, Overtime payment, Bonus etc. If there are any deductions, It is mentioned over there (Like Notice period, Extra payment or debit note).
F & F required reporting manager (Dept. Head) for authorization.
You have to meet with your reporting manager and short out the problem (Confusion).
15th November 2013 From India, Ahmadabad
Every company has a procedure for full and final settlement. That is Acceptance of resignation letter is enough or a checklist is maintianed and you have it signed from various dept or only from your reporting manager.
Full and final settlement means all liable montiory dues between you and your leaving company are settled and there is no financial liability exist. From there on you are no more an employee of that company. Your personal file is also closed with a copy you F&F settlement.
The F&F settlement includes any salary, Leave wages, Incentives, Bonus, Gratuity. Any debt/loan, adanvce or applicable statutory deduction also made if any.
15th November 2013