I worked with a private limited company for 5 months. I left the company on 8th May 2012 and still have not received my full and final settlement. It includes my April month salary, 8 days of May month salary, expense reimbursement for the months of March, April, and May, bonus, etc.
I was working as a Regional Manager, and I had given notice while leaving, which was well accepted by the GM of the company. Since those days, I have been calling and sending emails regarding the same, but they are postponing my payment without any reason.
Seeking Advice on Full and Final Settlement
What should I do? What is the time limit for full and final settlement as per the law? What actions should I follow?
Regards
From India, New Delhi
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2I was working as a Regional Manager, and I had given notice while leaving, which was well accepted by the GM of the company. Since those days, I have been calling and sending emails regarding the same, but they are postponing my payment without any reason.
Seeking Advice on Full and Final Settlement
What should I do? What is the time limit for full and final settlement as per the law? What actions should I follow?
Regards
From India, New Delhi
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An employee can go back to the organization for Full and Final settlement after 45 days of leaving. For example, you can go for FnF after 25th June. For this, the employee needs to visit the organization and fill out the clearance form and other settlements as per the company's norms. After completing these steps, you will receive the amount through a cheque.
At the same time, you may also fill out your PF form (please carry a few revenue stamps and 2 copies of resignation).
Hope this information is helpful!
Regards,
Kanika
From India, Delhi
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At the same time, you may also fill out your PF form (please carry a few revenue stamps and 2 copies of resignation).
Hope this information is helpful!
Regards,
Kanika
From India, Delhi
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I understand your query. To my knowledge, the Shop & Establishment Act has defined the full and final settlement due time from the last working day of the employee. It is divided into two aspects: termination by self (resignation) and termination by the employer. You have not mentioned which state you belong to. Please check out your state's shop act to know more in detail.
For F&F settlement, you should have submitted a No Dues form. The company cannot process anything unless your dues are cleared in writing. Make sure that before you take any step, you have obtained your NDC.
Regards,
Vishwanath
From India, Hyderabad
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For F&F settlement, you should have submitted a No Dues form. The company cannot process anything unless your dues are cleared in writing. Make sure that before you take any step, you have obtained your NDC.
Regards,
Vishwanath
From India, Hyderabad
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Thank you for your responses. I have completed all necessary clearance procedures in writing as part of my official resignation. This has been documented and acknowledged by the GM-Admin, VP-Ops, VP-HR, etc. However, I am still awaiting the finalization of these processes. Additionally, I have reached out to the MD to explain my situation and have requested the release of my pending payment. Unfortunately, they have not yet provided me with the Form-16 for the year 2011-2012.
Kind regards,
Regards
From India, New Delhi
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Kind regards,
Regards
From India, New Delhi
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Full n final settlement.doc
Full & Final Payment.xls