Are you an employee leaving your company, or are you from HR? Before employees quit their company, they are expected to obtain clearance from each department. During the clearance process, they need to return the company's assets to the respective department. The signature of the HOD on the clearance form signifies that there are no dues against the exiting employee.
Secondly, within the department, while handing over the charge, a Handing Over/Taking sheet is used. This is a simple form with the heading "Handing Over/Taking Over Sheet." The items that need to be handed over are listed out, and if required, product descriptions may be included. At the bottom of the page, the name, designation, signature, and date of the handing over and taking over person are endorsed. This is also a part of the clearance process.
Later, the exiting employee is issued a "No Due Certificate." Generally, this is issued by HR or the GM/VP of the company.
Hope this solves your query.
Thanks,
Dinesh Divekar