Dear All,
I have seen many companies having a policy of a notice period in lieu of salary. So my question is, when considering notice period money, does one need to recover all gross salary or only the Basic+DA part from the gross in the Full & Final statement? What is the legal provision on this matter, as I am not aware of it.
Please appraise.
Thanks & Regards,
Anant Karad
From India, Pune
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4I have seen many companies having a policy of a notice period in lieu of salary. So my question is, when considering notice period money, does one need to recover all gross salary or only the Basic+DA part from the gross in the Full & Final statement? What is the legal provision on this matter, as I am not aware of it.
Please appraise.
Thanks & Regards,
Anant Karad
From India, Pune
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Most companies follow this rule and employee employee need to serve the notice period or in lieu of notice period employee need to pay gross salary amount.
From India, Lucknow
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From India, Lucknow
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There is no specific legal position on this. Therefore, it is open to the company to opt for either of them. In some companies, it may be stated in the standing orders. There are arguments for both options. Search the citehr forum, and you will get a detailed discussion that has already taken place many times on this topic.
From India, Mumbai
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From India, Mumbai
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Full n final settlement.doc