Full and Final Settlement refers to the settlement of all mutual financial dues between the employer and the employee when the contract of employment between them gets terminated. How long it should take to be completed can not be precisely set down for it depends upon the nature, quantum and points of dispute,if any of the dues. But certain statutory dues like gratuity, retrenchment compensation, unpaid salary/wages have their time limits set down under the respective laws applicable which, I think, do not exceed 30 days from the date of termination of employment in any case. If the employee owes some dues to the employer, at times , those can not be legally adjusted against the dues to the employee or there may be some disputes in their calculation or the outstanding may be larger. In anticipation of such a contingency, some employers unilaterally decide the period as 45 days and as such it has no legal sanction,if any. Depending upon the position of your job with the previous organization, you can initiate recovery process of the dues since the default period is unduly long.
19th May 2018 From India, Salem