Dear Saxena,
I am not able to understand why this question arises when whatever payouts have to be done through the Accounts/Finance department of an organization. It is the duty of the Accounts department to ensure TDS is effected in payments exceeding the limits under the Income Tax Law. Of course, the Accounts personnel may not be aware of the terminal benefits like gratuity exempted from income tax up to the statutory limit, and here comes the effective coordination between the HR and Accounts personnel. Therefore, there is no question of the comparative degrees of importance of approval in the matter of full and final settlement of employees.