Hi,
I just want to know what is the maximum time period that a company may take to provide full and final settlement for an employee who left out the company with all formalities.
I resigned my previous company but even after two month they are not giving me the correct information about the tentetive date for my full and final settlement. This cause my bonus and saalary of around 1.5 month to be still with the company.
Thanks
Nitin
From India, Delhi
I just want to know what is the maximum time period that a company may take to provide full and final settlement for an employee who left out the company with all formalities.
I resigned my previous company but even after two month they are not giving me the correct information about the tentetive date for my full and final settlement. This cause my bonus and saalary of around 1.5 month to be still with the company.
Thanks
Nitin
From India, Delhi
Dear Nitin,
This query is some what difficult. There is no specific law framed by the Govt. relating to full & final settlement of dues to be made to the employee/ worker/ officer who is not covered under any of the labour laws or covered under any of laws e.g. The Payment of Gratuity Act. For giving proper reply one have to examine under which of the labour laws/other law the employee is entitled to have payment from the employer. The position may also be different if some one himself resign or his services are terminated by the employer. For example if any person resign for service which is covered under The Factories Act, 1948 then encashment of the EL will be made on or before the next pay day but if the employment is terminated then as per section 79 (11) his encashment of EL shall be made before the second working day after such termination. If the establishment is covered under Shops Act then we are to go through the provision of respective State Shops & Commercial Establishment Act for encashment of EL. Similarly Bonus, if applicable to the unit then this will be paid or may be paid within eight months from the close of the accounting year. Gratuity if payable within 30 days. Thus one have to examine each & every head of payment for this query.
Regards,
R.N.Khola
(Labour Law & Legal Consultants)
09810405361
From India, Delhi
363This query is some what difficult. There is no specific law framed by the Govt. relating to full & final settlement of dues to be made to the employee/ worker/ officer who is not covered under any of the labour laws or covered under any of laws e.g. The Payment of Gratuity Act. For giving proper reply one have to examine under which of the labour laws/other law the employee is entitled to have payment from the employer. The position may also be different if some one himself resign or his services are terminated by the employer. For example if any person resign for service which is covered under The Factories Act, 1948 then encashment of the EL will be made on or before the next pay day but if the employment is terminated then as per section 79 (11) his encashment of EL shall be made before the second working day after such termination. If the establishment is covered under Shops Act then we are to go through the provision of respective State Shops & Commercial Establishment Act for encashment of EL. Similarly Bonus, if applicable to the unit then this will be paid or may be paid within eight months from the close of the accounting year. Gratuity if payable within 30 days. Thus one have to examine each & every head of payment for this query.
Regards,
R.N.Khola
(Labour Law & Legal Consultants)
09810405361
From India, Delhi
Dear Khola Sir,
Thanks for sharing the above information.
I am trying to find out the exact rules of maximum time delay allowed to Pvt. Ltd. I.T. services firm for full and final settlement of a separated employee.
I got released on 28th May 2013 and still (after more than last 2 months) my F&F (in terms of experience letter and 1 month salary) is not yet done by the organisation although there are absolutely no dues from my side towards the organisation. HR is trying to postpone it with many irrelevant reasons. I think generally it should not take more than 30-45 days after separation.
Can you please guide me on this as how shall I handle the current situation and get my F&F done as early as possible?
Your advice would really be helpful for me.
Thanks & Regards,
Abhay V.
From India, Mumbai
Thanks for sharing the above information.
I am trying to find out the exact rules of maximum time delay allowed to Pvt. Ltd. I.T. services firm for full and final settlement of a separated employee.
I got released on 28th May 2013 and still (after more than last 2 months) my F&F (in terms of experience letter and 1 month salary) is not yet done by the organisation although there are absolutely no dues from my side towards the organisation. HR is trying to postpone it with many irrelevant reasons. I think generally it should not take more than 30-45 days after separation.
Can you please guide me on this as how shall I handle the current situation and get my F&F done as early as possible?
Your advice would really be helpful for me.
Thanks & Regards,
Abhay V.
From India, Mumbai
Well, there's not certain criteria or time period defined for a company to settle FNF and it dpend on various factors like size of company, industry, your profile, tenure as well as the workload on HR and their priorities for the tasks.
However, most of the companies ask for atleast 45 days to settle FNF.
From India, Lucknow
However, most of the companies ask for atleast 45 days to settle FNF.
From India, Lucknow
Hi,
I joined on 01.01.2016 and I resigned my job on 09.06.2016 by the time i was in Probation period, My resignation has sent through mail and they have received and not reply anything, after my resignation i served 11 days notice period instead of 7 days, but also no body was replied, finally when I'm asking about F&F our Manager says they have not accepted my resignation...
As i heard somewhere with in 3 days of resignation if they not reply it means resignation accepted... Is this right or wrong...???
I have the all mail copies, Can i go legally using law & order as per the HR policy to recover my F&F...??? How many days required to get my F&F as per the HR Policy..?? Pls help me on this...
From India, Bangalore
I joined on 01.01.2016 and I resigned my job on 09.06.2016 by the time i was in Probation period, My resignation has sent through mail and they have received and not reply anything, after my resignation i served 11 days notice period instead of 7 days, but also no body was replied, finally when I'm asking about F&F our Manager says they have not accepted my resignation...
As i heard somewhere with in 3 days of resignation if they not reply it means resignation accepted... Is this right or wrong...???
I have the all mail copies, Can i go legally using law & order as per the HR policy to recover my F&F...??? How many days required to get my F&F as per the HR Policy..?? Pls help me on this...
From India, Bangalore
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