Final Settlement - Company Settlement

Sir,
I am a Logistic executive who had served in a company for 5 years & resigned from service on 31/3/2011 after serving a notice period of 1 month .I have been issued a relieving letter on the same day, But till now the company has not cleared my final settlement when i check with HR i get an information that Finance manager is holding your settlement since there is some discrepancies in stock. I want a solution to this problem
1. Can Company hold my settlement for difference in stocks when the final relieving letter issued.
2.What future course of action to be taken to claim the settlement.
Please help me.
Regards
Lakhs 826

Hello Lakhs,
Relieving letter and Full and final settlement are interrelated. Relieving letter is issued to declare the employee is relieved from his responsibilities and his last working day. Full and final settlement takes time, usually done within 1 month from the date of relieving. Now check with you the following -
1. Have you done a proper charge handover note ?
2. Did all pending or ongoing work were detailed in that ?
3. Did you give a proper understanding of critical issues to new person ?
2. Did the person accepting your charge, signed on your note along with your reporting boss ?
If yes to all, company can not withhold your F&F. It seems discrepancies found later, if it was earlier, they would not have issued relieving letter.
However, to keep good relations with past employer, I would advise consult your Finance Manager immediately to know about issues. Try to settle it amicably.
Best wishes.
Vaishalee Parkhi

Dear Sir/Madam,
At the time of relieving I have handed over my responsibilities & relevant documents with details to my subordinate in front of my Boss and it was duly signed by him stating that there was no objection from him to relieve me. But now the whole issue is revolving around my Finance Manager who during a send off party didn't raise any query nor objected for issue of relieve letter.I had sent a mail personally to him for which there was no reply from his side,nor when I tried to contact him he refuses to pick the phone.
Since I am in urgent need of money please suggest me what best solution is possible whether to proceed through Labour Dept or legal to recover the amt.
Regards
Lakhs826

1. You meet your Finance manager and discuss face to face.
2. If nothing comes out, you can meet HR head or MD to brief your case and justice in the matter.
Adopting legal way is difficult at individual level. As far as possible, peaceful settlement is advisable.
Regards,
Vaishalee