Dear Medha,
In my opinion, as a PROCESS, the F&F Settlement refers to the balancing of all the dues by and the dues to the exiting employee in the wake of termination of the contract of employment either at the instance of the employer or the employee as well as the normal expiry of the contract as stipulated earlier and as a DOCUMENT, it is a statement containing the details of the dues by the employee received or adjusted and inalienable terminal benefits like gratuity paid over to the employee.
Therefore, it would be suffice that the mode of termination like resignation, retirement on attaining the age of superannuation, voluntary retirement under any VRS, resignation, discharge, retrenchment, dismissal or death, as the case be, find a mention in the F&F . Basically, employment being a contract, its foreclosure being subject to the fulfillment of the conditions, if any stipulated and resignation being one among the modes of termination, unwillingness to continue the contract can also be a valid reason. Therefore, once resignation is accepted and acted upon by both the employer and the employee concerned, it is not necessary to mention the reasons for the same in the Statement of F&F Settlement.