Dear Sir, I am Jeevan Kumar. The company has called me by phone to resign from my job. I received a call from the HR and accounts manager one month back, asking for my resignation. I requested a letter or email for the resignation purpose, but none was sent. I inquired how I could resign without any formal communication and requested the full and final amount. Now, they terminated my job on 12th Oct 2020. The company deducted 20% of my salary for 6 months due to cost-cutting. Can you please inform me how much amount I can expect for the full and final settlement, considering the 20% deduction and an additional 3 months of salary?
Thank you.
From India, Hyderabad
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Thank you.
From India, Hyderabad
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Calculating Full and Final Settlement After Salary Deduction
🔍 In the scenario described, where the company has deducted 20% of your salary for 6 months due to cost-cutting, here is how you can calculate your full and final settlement:
1. Calculate 20% Deduction Amount:
- Determine the total amount deducted over 6 months by multiplying your monthly salary by 20% and then multiplying this by 6.
2. Calculate Additional 3 Months of Salary:
- Calculate your monthly salary for 3 months.
3. Total Full and Final Settlement:
- Subtract the 20% deduction amount from the total earnings for the 6 months.
- Add the additional 3 months of salary to the remaining amount to get your full and final settlement.
🔍 Remember to consider any other applicable benefits or dues while calculating the final settlement amount. It's crucial to also review your employment contract, company policies, and relevant labor laws for any further entitlements or legal aspects regarding your termination and settlement.
🔍 If you encounter any difficulties or discrepancies in the settlement process, you may seek advice from a legal professional specializing in labor laws to ensure your rights are protected and that the calculation is accurate.
From India, Gurugram
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54🔍 In the scenario described, where the company has deducted 20% of your salary for 6 months due to cost-cutting, here is how you can calculate your full and final settlement:
1. Calculate 20% Deduction Amount:
- Determine the total amount deducted over 6 months by multiplying your monthly salary by 20% and then multiplying this by 6.
2. Calculate Additional 3 Months of Salary:
- Calculate your monthly salary for 3 months.
3. Total Full and Final Settlement:
- Subtract the 20% deduction amount from the total earnings for the 6 months.
- Add the additional 3 months of salary to the remaining amount to get your full and final settlement.
🔍 Remember to consider any other applicable benefits or dues while calculating the final settlement amount. It's crucial to also review your employment contract, company policies, and relevant labor laws for any further entitlements or legal aspects regarding your termination and settlement.
🔍 If you encounter any difficulties or discrepancies in the settlement process, you may seek advice from a legal professional specializing in labor laws to ensure your rights are protected and that the calculation is accurate.
From India, Gurugram
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Full n final settlement.doc