Hi, I joined my previous company "A" under a bond of one year, which at that time I had no issues with. However, due to some health reasons, I had to leave, and I was relieved without any bond-breaking amount and even a shorter notice period. The point to note is that the company was laying off a lot of employees for various reasons, which facilitated my early release, although I was not supposed to be laid off.
Now, due to some family financial problems, I have accepted an offer from my first-ever company "B" with a good package for immediate joining. I received my relieving letter from company "A"; however, my full and final settlement is still pending. Can they hold my full and final settlement based on my knowledge of joining another company? Is there anything I can do?
From India, Baddi
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Now, due to some family financial problems, I have accepted an offer from my first-ever company "B" with a good package for immediate joining. I received my relieving letter from company "A"; however, my full and final settlement is still pending. Can they hold my full and final settlement based on my knowledge of joining another company? Is there anything I can do?
From India, Baddi
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Hi, was your departure from Company A due to your resignation, or did they let you go for their own benefit? If you had signed a bond with Company A, you are obligated to adhere to it. If your departure was a result of your resignation, they might have adjusted the settlement to account for breaking the bond. Therefore, I recommend checking with your HR department regarding the Full and Final Settlement (FFS).
From India, Madras
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1015From India, Madras
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Hi, Yes the relieving was based on my resignation, however on relieving they had informed me that the full n final settlement will be made in 45-60 days. Even the mail same had been said.
From India, Baddi
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From India, Baddi
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Hi As they assured to release FFS through emai itself just wait and see. Wherever possible keep your joining with new employer as confidential till you get FFS. Do not expose it for time being.
From India, Madras
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From India, Madras
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Full and Final Settlement and Waiving Off Notice Period
Full and final settlement and waiving off your notice period or early release depend on the company policy and the flexibility in the management outlook. In some companies, if the Head of Department (HOD) can accept your early release with a waiver, then it can be easier for you.
Please discuss with your HOD and then HR about the facts. Whatever the decision, try to accept it as you are heading towards success and achievement. Small losses don't matter; they can be recovered in a month or so.
Regards, Sanddep Verma
HR Mentor and Coach
From India, Jaipur
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Full and final settlement and waiving off your notice period or early release depend on the company policy and the flexibility in the management outlook. In some companies, if the Head of Department (HOD) can accept your early release with a waiver, then it can be easier for you.
Please discuss with your HOD and then HR about the facts. Whatever the decision, try to accept it as you are heading towards success and achievement. Small losses don't matter; they can be recovered in a month or so.
Regards, Sanddep Verma
HR Mentor and Coach
From India, Jaipur
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Full n final settlement.doc