Labour Law & Hr Consultant
Group Compliance Manager
Labour Law Advocate
The term " settlement ", as a process means generally the act of amicably resolving any dispute and in employment context means the resolution of any employment dispute between the employer and workmen and as a noun in this regard would include a written agreement entered into between them both as a result of conciliation and bi-lateral negotiations.
27th April 2016 From India, Salem
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13th May 2016 From India, Kolkata
By settlement what we actually mean is the amicable resolution of all contentious issues between the disputants either by direct negotiation or by conciliation/mediation by a third party.
In the memorandum of a settlement which is an enforceable agreement, conspectus or an introductory note is generally provided briefly stating the demands and counter demands/response of the disputants, the stretch of negotiations held in this regard and their smooth conclusion giving rise to an amicable settlement with the terms and conditions mutually agreed thereunder.
The operative part of a settlement contains the mutual rights and obligations enjoined upon the parties to the settlement deduced in unambiguous language in the form of terms and conditions.
The terms and conditions of a settlement depend upon the nature of the dispute between the parties. For instance, a full and final settlement regarding a non-employment issue is an ad hoc settlement which would automatically come to an end when the obligations mentioned therein are fully complied with; no more possibility of re-agitation. Generally a settlement regarding non-employment is an agreement prohibiting the right to reemployment under the same employer in lieu of certain monetary compensation in addition to all other terminal benefits.Settlements relating to other conditions of employment would be operative during the period of time agreed thereupon only and the same issues can be raised again after its expiry..
14th May 2016 From India, Salem
Am asking it not on a particular member generally asking..
As i know the settlement includes gratuity, EL, bonus and any special leaves on cash enhancement mode. other then this do we have to consider any other things as per law & company terms.
Looking forward your valuable reply..
Thanks & Regards,
17th May 2016 From India, Tiruppur
Settlement process normally took place in a cultural undermining. Meaning only encircles at norms of compliance, that is what I mean on earlier message, "at the tip of your nose". It is either at the expense of the company and/or at the cost of the services.
If I may suggest, what are the stipulated benefits anent to the General Labor Standards prescribed by Law should be given to the employees for ethical labor relation and provision of awarding should also be in accordance of maturity base upon the recommendation of employment maturity and contract.
18th May 2016 From Philippines, Cagayan de Oro
By the term ''Settlement'' you mean terminal benefits.. right??
In that case when an employee relieve from work, he / she is entitled to receive the following benefits
a) wages till last working day - this is to be paid within 48 hours of his/her exit
b) Encashment of un-availed leave
And also you need to guide the worker to avail his PF benefits in case if he/she is not intended to continue his/her job in any other company.
Hope this is clear now
31st May 2016 From India, Coimbatore