Full and final settlement not cleared on knowledge of my joining another company, is there anything I can do?

Hi, I joined my previous company "A" under a bond of one year, which at that time I had no issues with. However, due to some health reasons, I had to leave, and I was relieved without any bond-breaking amount and even a shorter notice period. The point to note is that the company was laying off a lot of employees for various reasons, which facilitated my early release, although I was not supposed to be laid off.

Now, due to some family financial problems, I have accepted an offer from my first-ever company "B" with a good package for immediate joining. I received my relieving letter from company "A"; however, my full and final settlement is still pending. Can they hold my full and final settlement based on my knowledge of joining another company? Is there anything I can do?

Hi, was your departure from Company A due to your resignation, or did they let you go for their own benefit? If you had signed a bond with Company A, you are obligated to adhere to it. If your departure was a result of your resignation, they might have adjusted the settlement to account for breaking the bond. Therefore, I recommend checking with your HR department regarding the Full and Final Settlement (FFS).

Hi, Yes, the relieving was based on my resignation; however, upon relieving, they informed me that the full and final settlement would be made in 45-60 days. Even the email said the same. Thank you.

Hi, as they assured to release the FFS through email itself, just wait and see. Wherever possible, keep your joining with the new employer confidential until you get the FFS. Do not expose it for the time being.

Full and Final Settlement and Waiving Off Notice Period

Full and final settlement and waiving off your notice period or early release depend on the company policy and the flexibility in the management outlook. In some companies, if the Head of Department (HOD) can accept your early release with a waiver, then it can be easier for you.

Please discuss with your HOD and then HR about the facts. Whatever the decision, try to accept it as you are heading towards success and achievement. Small losses don't matter; they can be recovered in a month or so.

Regards, Sanddep Verma
HR Mentor and Coach