F&F consists of employee's earnings i.e.PF, Gratuity, Leave wages, Bonus, Last months salary as per applicability and its adjustment against employee's dues towards the company. The dues can be towards an advance, loan, fees towards club and other such amenities etc.
Gratuity shall be paid within 30 days. PF subject to process (transfer/withdrawal) , employer only need to acknowledge wherever required.
Last months' salary shall be paid ideally on the day fixed for salary disbursement, however company can hold it for full an final settlement where they need to take stock from different departments, different agencies about dues from both the sides.
For this purpose company may need some fair and reasonable time. However for F&F settlements in case of resignation there is no clearly prescribed timeline.
In fact it is in interest of the company to settle the full & final at earliest.
In case unjustified and unreasonable delay in payment of Gratuity you can approach Labour commissionerate (authority under Gratuity). If you are drawing less than 24000 you can approach the Labour office for delayed payment of your last month wages also.
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5th November 2018 From India, Mumbai