Understanding FnF Settlements: When Should Employees Get Paid During Notice Period?

Dear All,

Can anyone tell me how FnF is done? In my organization, the notice period for every employee is 2 months. Once the person submits their resignation, should they receive one month's salary during the notice period or should they receive all their payments after completing two months?

Also, if anyone can assist me in creating a resignation policy.

Regards,
Saman

Saman,

Full and Final Settlement is done by obtaining no-due signatures from IT/Finance/Reporting Manager/HR department heads. It usually consists of the pending amount that needs to be paid to the resigned employee by the organization.

Paying the salary to the resigned employee depends on the organization's policy during the notice period. Some companies have a policy of holding the salary for the first month and including it in the full and final settlement. This practice is implemented to prevent employees from leaving the organization without serving their notice period. However, some organizations do not withhold their employees' salaries. The decision on this matter is up to you to make.

Hello all,

I am looking for a format of an F n F statement and an exit/clearance form. If anyone has these formats, please provide them to me.

Thank you