Can someone please tell me what is the maximum time within which the company is supposed to give me my F&F once I have served my notice period completely? My notice period would end on 8 Jan 2012, so by when is the management supposed to give me my F&F?
Also, till now I have not received my F&F statement from the HR department. What can I do in such a case as I don't want to ask them?
Regards
From India, Delhi
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Also, till now I have not received my F&F statement from the HR department. What can I do in such a case as I don't want to ask them?
Regards
From India, Delhi
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If you are an employee covered under the P.F and Gratuity Acts, the time schedule for settlement is as follows:
EPF Settlement
1) As far as EPF is concerned, the claim shall be paid within 30 days of receipt of the employee's claim application by the P.F Dept in terms of the scheme 1952. However, the P.F authorities may wait for two months to ensure that you have not been employed continuously for two months or more with another establishment to which the Act applies.
Gratuity Settlement
2) Regarding gratuity, the employer shall issue notice to the employee informing them about their eligibility for gratuity within 15 days of receipt of the employee's application and thereafter pay gratuity within 30 days as per sec. 7(3) of the Gratuity Act 1972.
Leave Encashment
3) In the case of leave encashment (encashment of unavailed leave), if your establishment is a factory and you are quitting the service, it shall be paid before the next payday. If your services are terminated by the company, it shall be paid before the expiry of the second working day after such termination.
If your establishment is a commercial establishment covered under the Shops and Establishments Act, please verify the Shops Act of your state, since there may be minor differences in the provisions of Shops acts of different states.
Regards,
B. Saikumar
HR & Labour Law Consultant
Chipinbiz Consultancy Pvt. Ltd
Mumbai
[Phone Number Removed For Privacy Reasons]
From India, Mumbai
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57EPF Settlement
1) As far as EPF is concerned, the claim shall be paid within 30 days of receipt of the employee's claim application by the P.F Dept in terms of the scheme 1952. However, the P.F authorities may wait for two months to ensure that you have not been employed continuously for two months or more with another establishment to which the Act applies.
Gratuity Settlement
2) Regarding gratuity, the employer shall issue notice to the employee informing them about their eligibility for gratuity within 15 days of receipt of the employee's application and thereafter pay gratuity within 30 days as per sec. 7(3) of the Gratuity Act 1972.
Leave Encashment
3) In the case of leave encashment (encashment of unavailed leave), if your establishment is a factory and you are quitting the service, it shall be paid before the next payday. If your services are terminated by the company, it shall be paid before the expiry of the second working day after such termination.
If your establishment is a commercial establishment covered under the Shops and Establishments Act, please verify the Shops Act of your state, since there may be minor differences in the provisions of Shops acts of different states.
Regards,
B. Saikumar
HR & Labour Law Consultant
Chipinbiz Consultancy Pvt. Ltd
Mumbai
[Phone Number Removed For Privacy Reasons]
From India, Mumbai
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Dear Saiajith,
Since you will be working in the organization until 8th January, the HR department cannot process your Full and Final statement now. Probably on the 6th or 7th, you need to submit a 'no dues' certificate from all departments (if applicable).
The processing time for your Full and Final settlement will likely be between 1 month to 45 days, based on the organization's size.
Before Leaving the Organization
Please ensure to check the following with the HR department:
• The number of days to be paid (including your last month's HOLD salary, if applicable, and the salary for the 8 days of this month).
• Leave days for encashment.
• Any incentives, medical allowance, LTA (on a pro-rata basis), if applicable.
• Gratuity amount (if you have completed 5 or more years with the organization).
From the organization's side, deductions will be made for PF/ESI (if applicable), any loans or dues, mobile bills, travel expenses, and taxes (if applicable).
If you wish to withdraw your PF, you can apply after 2 months, or you can transfer your PF account, which your next employer will do through Form 13.
Thanks and Regards,
Shenbagarajan
From India, Mumbai
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Since you will be working in the organization until 8th January, the HR department cannot process your Full and Final statement now. Probably on the 6th or 7th, you need to submit a 'no dues' certificate from all departments (if applicable).
The processing time for your Full and Final settlement will likely be between 1 month to 45 days, based on the organization's size.
Before Leaving the Organization
Please ensure to check the following with the HR department:
• The number of days to be paid (including your last month's HOLD salary, if applicable, and the salary for the 8 days of this month).
• Leave days for encashment.
• Any incentives, medical allowance, LTA (on a pro-rata basis), if applicable.
• Gratuity amount (if you have completed 5 or more years with the organization).
From the organization's side, deductions will be made for PF/ESI (if applicable), any loans or dues, mobile bills, travel expenses, and taxes (if applicable).
If you wish to withdraw your PF, you can apply after 2 months, or you can transfer your PF account, which your next employer will do through Form 13.
Thanks and Regards,
Shenbagarajan
From India, Mumbai
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Full n final settlement.doc