Legal Impact of NEFT for Full and Final Settlement
Please confirm if there is any legal impact of paying the Full and Final (F & F) settlement amount directly by crediting it through NEFT into the bank account of the resigned employee. The settlement letter will be issued via HRMS.
Regards
From India, Mumbai
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Please confirm if there is any legal impact of paying the Full and Final (F & F) settlement amount directly by crediting it through NEFT into the bank account of the resigned employee. The settlement letter will be issued via HRMS.
Regards
From India, Mumbai
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Is there any problem in issuing a cheque to that effect instead of an NEFT transfer. If you issue a cheque, you can have proof immediately in your hand, and you can keep a copy of the cheque (if required) along with a letter issued by the HR Team in your company's personal file of the resigned employee. If it is an NEFT transfer, you have to get the complete printout of the day's transactions and keep the record in a separate file.
With warm regards,
S. Bhaskar
9099024667
From India, Kumbakonam
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1189With warm regards,
S. Bhaskar
9099024667
From India, Kumbakonam
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Full n final settlement.doc
Full & Final Payment.xls