Please tell me how to calculate the full and final settlement. I worked for a company for 11 months. Will deductions made during my probation period also be calculated when making my final settlement?
The company didn't give me any confirmation despite the commitment to provide it after the probation. There were deductions for my Gratia, LTA, Gratuity, and mediclaim. How am I supposed to calculate my claim?
From India, New Delhi
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The company didn't give me any confirmation despite the commitment to provide it after the probation. There were deductions for my Gratia, LTA, Gratuity, and mediclaim. How am I supposed to calculate my claim?
From India, New Delhi
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If you have completed one calendar year or you have completed continuous 240 days of service, then you will be eligible to get the following:
1. Notice pay - 26 days' basic salary
2. Retrenchment compensation - 15 days' basic salary
3. Earned Leave - 1 day's wages for every 20 working days
4. Bonus - As declared by the company for the financial year
5. LTA - As deducted by your employer month-wise from your salary
Thanks & Regards,
Debdas Nandy
From India, Calcutta
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1. Notice pay - 26 days' basic salary
2. Retrenchment compensation - 15 days' basic salary
3. Earned Leave - 1 day's wages for every 20 working days
4. Bonus - As declared by the company for the financial year
5. LTA - As deducted by your employer month-wise from your salary
Thanks & Regards,
Debdas Nandy
From India, Calcutta
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Dear Debdas, Thanks for your reply. I just wanted to inquire about the deductions made during my probation period. Can I claim those? For instance, they gave me a bonus of 13k, despite deducting 2800 for 11 months from my salary. Am I eligible to claim the remaining amount that they have deducted? Also, what about the LTA? Since I worked there for 11 months, can I claim LTA too?
Regards, Ankur
From India, New Delhi
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Regards, Ankur
From India, New Delhi
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Gmail - Full & Final Settlement Calculation sheet -16556 - Umesh Chand.pdf
Full n final settlement.doc