Hi Seniors,
One of our employees resigned on the 10th and provided notice until the 23rd. He worked from the 1st to the 23rd. Our policy stipulates a one-month notice period.
Regarding full and final adjustment, please clarify who is responsible for payment and how many days will be compensated.
Your prompt response is appreciated.
Thanks,
Sandeep
From India, Gurgaon
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3One of our employees resigned on the 10th and provided notice until the 23rd. He worked from the 1st to the 23rd. Our policy stipulates a one-month notice period.
Regarding full and final adjustment, please clarify who is responsible for payment and how many days will be compensated.
Your prompt response is appreciated.
Thanks,
Sandeep
From India, Gurgaon
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Dear Mr. Sandeep, No problem, if LTA or Bonus is the part of CTC then you can deduct the rest amount for 7 days through these compensation components. If there is confusion then revert me.
From India, Delhi
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From India, Delhi
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To prepare the full salary for 23 days and deduct the amount for 16 days from the 23 days' salary. This is because he has worked until the 23rd, and if he is covered under the EPF or ESI act, you have to deposit the EPF and ESI amount for 23 days. Suppose his net salary is 10,000.00.
- 23 days' salary = 7,419/-
- 16 days' salary = 5,161/-
- F & F amount = 2,258/-
He had served only a 14-day notice period.
From India, New Delhi
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- 23 days' salary = 7,419/-
- 16 days' salary = 5,161/-
- F & F amount = 2,258/-
He had served only a 14-day notice period.
From India, New Delhi
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Thanks Anuu and akpk for the clarification, there is no adjustment of LTA and Bonus so We are paying him 7 days salary as he has served 14 days notice period and worked for 23 days.
From India, Gurgaon
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From India, Gurgaon
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First, check your company's appointment letter terms and conditions. The notice period is always payable based on the basic salary. You should deduct 16 days' worth of basic salary. For example, if the basic salary is $10,000, then the calculation would be $10,000 / 30 * 16. Thank you.
From India, Chandigarh
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From India, Chandigarh
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Gmail - Full & Final Settlement Calculation sheet -16556 - Umesh Chand.pdf
Full n final settlement.doc