What Documents Are Needed for an Employee's Full and Final Settlement?

Respected Seniors,

Please provide me with the details of the documents and formalities required for the full and final settlement of an employee.

Pawan

The following documents are essential:

- Letter of resignation from the employee
- Acceptance letter from the employer indicating the date of relieving
- Settlement of accounts, duly acknowledged by the employee
- Details of payment made towards full and final settlement (cheque number, amount, name of the bank, and the branch on which the cheque is drawn)

Please find the file attached herewith for the above requirement.

Hi Pawan,

Please find attached the final settlement copy.

Thanks,
Meera

Dear Pawan,

Before completing the final clearance of any employee, it should be ensured that the person who is resigning has submitted his resignation letter signed by him as well as by the Head of the Department, mentioning the date of clearance. Also, check if he is serving the notice period as per the company policy. Additionally, check if he has availed any leave in advance. Make sure that all the items provided by the company should be returned.

Thank you.

Dear Pawan,

Full and final settlement for exiting employees requires the following steps:

1. First, obtain the resignation letter and stop the employee's salary for that month.
2. Obtain a No dues certificate for the exiting employee from the head of the department.
3. Clear any leave encashment due.
4. Prepare the full and final settlement based on the company's rules and submit it to the accounts department.

Regards,
Malini
HR Assistant

Hi, I am sending the full and final settlement. Please suggest any mistakes.

K. Srinivasa Rao

Please find the attached document for your reference. You can use it at any level.

Best regards,
Saroj Kumar Deka

Hi,

Can anybody tell me how to calculate full and final settlement?

Regards,
Deepika

Retention Discussion After Resignation

After receiving the resignation letter from the employee, have a discussion with the respective department head to determine whether they are interested in retaining the employee or not. If the response is positive, schedule a meeting with the resigned employee for a personal discussion to explore retention options.

Procedure if Retention is Not Possible

If the response is negative, please follow the procedure outlined below:

After the personal discussion, if the employee expresses dissatisfaction and wishes to resign, follow these steps:

1. Check the appointment order for the notice period.
2. Avoid assigning any crucial tasks.
3. Request the employee to fill out an exit application.
4. Obtain a No Objection Certificate (NOC) clearance.
5. Notify the employee of the relieving date.