Is there is any law of completing the full and final settlement in two days after the employee leaves? Please explain with the new policy.
From India, Delhi
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From India, Delhi
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In the new labor codes, it has been mentioned, but they are yet to be implemented. Please read all four codes to know the new rules.
Regards, S K Bandyopadhyay (WB, Howrah)
From India, New Delhi
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367Regards, S K Bandyopadhyay (WB, Howrah)
From India, New Delhi
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Dear all,
Exit interview
Immediately upon receiving notice of resignation, supervisors should submit a Personnel Action Form to the HR officer, who forwards it to the Employment Unit of the HR Department. Receipt of this form prompts the arrangement of an exit interview conducted by the HR Department.
Exit interviews are designed to provide employees with information concerning benefits and other aspects of separation, including conversion or termination of insurance policies, pay due at that time, employee banking accounts, identification for Unemployment and Disability Insurance purposes, profit sharing, retirement benefits, and the like.
The interview is also useful in obtaining information that may assist the company in reducing turnover and improving employee morale.
When possible, exit interviews are conducted at the HR office. If time or location makes it impossible, the interview may be conducted by phone. When circumstances preclude these two options, the necessary information is sent by mail.
Pay upon termination
The final payment is a combination of salary, the week of "lagged" payroll, and the vacation pay allowance, if any is due (company policy does not provide for severance pay). The basis for final pay is the information the supervisor submits to the HR Department on the Personnel Action Form. The Employment Unit, in conjunction with the Payroll Unit, determines the final pay and conveys this information to the terminating employee at the exit interview.
The employee is paid on the next scheduled payday as required by law. Except for amounts representing days without pay and/or the salary advance given to employees active at the time of the biweekly payroll conversion, terminating employees have full access to the funds in their Employee Checking Accounts.
Best regards,
John Chiang
From China, Shanghai
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Exit interview
Immediately upon receiving notice of resignation, supervisors should submit a Personnel Action Form to the HR officer, who forwards it to the Employment Unit of the HR Department. Receipt of this form prompts the arrangement of an exit interview conducted by the HR Department.
Exit interviews are designed to provide employees with information concerning benefits and other aspects of separation, including conversion or termination of insurance policies, pay due at that time, employee banking accounts, identification for Unemployment and Disability Insurance purposes, profit sharing, retirement benefits, and the like.
The interview is also useful in obtaining information that may assist the company in reducing turnover and improving employee morale.
When possible, exit interviews are conducted at the HR office. If time or location makes it impossible, the interview may be conducted by phone. When circumstances preclude these two options, the necessary information is sent by mail.
Pay upon termination
The final payment is a combination of salary, the week of "lagged" payroll, and the vacation pay allowance, if any is due (company policy does not provide for severance pay). The basis for final pay is the information the supervisor submits to the HR Department on the Personnel Action Form. The Employment Unit, in conjunction with the Payroll Unit, determines the final pay and conveys this information to the terminating employee at the exit interview.
The employee is paid on the next scheduled payday as required by law. Except for amounts representing days without pay and/or the salary advance given to employees active at the time of the biweekly payroll conversion, terminating employees have full access to the funds in their Employee Checking Accounts.
Best regards,
John Chiang
From China, Shanghai
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Full n final settlement.doc