Dear All,
I have resigned from a corporate company with a 1-month notice period. After the completion of the 1-month notice period, I submitted all documents to the local HR. I wanted to know, as per company policy or regulations, how much time it should take for the final settlement. Our HR says it should take a minimum of 45 days after the last working day.
Please suggest what I should do. My two-month salary and other benefits as per the appointment letter are still due.
Thanks in advance.
From India, Patna
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I have resigned from a corporate company with a 1-month notice period. After the completion of the 1-month notice period, I submitted all documents to the local HR. I wanted to know, as per company policy or regulations, how much time it should take for the final settlement. Our HR says it should take a minimum of 45 days after the last working day.
Please suggest what I should do. My two-month salary and other benefits as per the appointment letter are still due.
Thanks in advance.
From India, Patna
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Dear Saket,
Your HR has given you the right information. Forty-five days is a standard maintained by every company. Your salaries would be released after deducting any dues. If you need money and cannot wait for that long, you may request them. They might consider your request on humanitarian grounds.
Wishing you all the best!
From India, Mumbai
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1872Your HR has given you the right information. Forty-five days is a standard maintained by every company. Your salaries would be released after deducting any dues. If you need money and cannot wait for that long, you may request them. They might consider your request on humanitarian grounds.
Wishing you all the best!
From India, Mumbai
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It depends on what law applies to you.
Under both the Factories Act, wages have to be paid within 2 days from the last working day. Other dues can be given within 30 days. Most shop and establishment acts provide similar rules. Clearing dues after 45 days is wrong in law.
However, it makes little sense to try and take legal action on this point. The case won't even come up for hearing, and you will spoil your relationship with the employer, which will result in problems during reference checks.
From India, Mumbai
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Under both the Factories Act, wages have to be paid within 2 days from the last working day. Other dues can be given within 30 days. Most shop and establishment acts provide similar rules. Clearing dues after 45 days is wrong in law.
However, it makes little sense to try and take legal action on this point. The case won't even come up for hearing, and you will spoil your relationship with the employer, which will result in problems during reference checks.
From India, Mumbai
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Legal Clarification on Revocation of Resignation & Severance Dues.pdf
FW Full and final settlement of all my dues including salary leave encashment Gratuity PF .zip