Dear All,
Can someone pls tell me what is the max time within which the company is supposed to give me my F&F once I have served my notice period completely.
My notice period would end on 8 Jan,2012, so by when is the management supposed to give me my F&F.
Also, till now I have not received my F&F statement from the HR dept..
What can I do in such case as I don't want to ask them!!
Regards
From India, Delhi
Can someone pls tell me what is the max time within which the company is supposed to give me my F&F once I have served my notice period completely.
My notice period would end on 8 Jan,2012, so by when is the management supposed to give me my F&F.
Also, till now I have not received my F&F statement from the HR dept..
What can I do in such case as I don't want to ask them!!
Regards
From India, Delhi
Hi Saiajith
If you are an employee covered under the P.F and Gartuity Acts, the time schedule for settlement is as under.
1)So far as EPF is concerned, the claim shall be paid within 30 days of receipt of employee's claim application by the P.F Dept in terms of teh scheme 1952. However the P.F authorities may wait for two momths to ensure that you have not been employed continuously for two months or more with another establishment to which the Act applies.
2)So far as the gartuity is concerned, the employer shall issue notice to the employee informing him about his eligibility for gratuity within 15 days of receipt of application of the employee and therafter pay gratuity within 30 days as per sec.7(3) of the Gartuity Act1972.
3) In case of leave encashment(encasment of unavailed leave), if your establishment is a factory and you are quitting the service, it shall be paid before the next pay day. If your services are terminated by the comapny, it shall be paid before the expiry of the second working day after such termination.
If your establishment is a commercial establishment covered under the Shops and Establishmenst Act, please verify the Shops Act of your state, since there may be minor difference in the provisions of Shops acts of different States.
B.Saikumar
HR & labour Law Consultant
Chipinbiz Consultancy Pvt.ltd
Mumbai
022-28324234
From India, Mumbai
54If you are an employee covered under the P.F and Gartuity Acts, the time schedule for settlement is as under.
1)So far as EPF is concerned, the claim shall be paid within 30 days of receipt of employee's claim application by the P.F Dept in terms of teh scheme 1952. However the P.F authorities may wait for two momths to ensure that you have not been employed continuously for two months or more with another establishment to which the Act applies.
2)So far as the gartuity is concerned, the employer shall issue notice to the employee informing him about his eligibility for gratuity within 15 days of receipt of application of the employee and therafter pay gratuity within 30 days as per sec.7(3) of the Gartuity Act1972.
3) In case of leave encashment(encasment of unavailed leave), if your establishment is a factory and you are quitting the service, it shall be paid before the next pay day. If your services are terminated by the comapny, it shall be paid before the expiry of the second working day after such termination.
If your establishment is a commercial establishment covered under the Shops and Establishmenst Act, please verify the Shops Act of your state, since there may be minor difference in the provisions of Shops acts of different States.
B.Saikumar
HR & labour Law Consultant
Chipinbiz Consultancy Pvt.ltd
Mumbai
022-28324234
From India, Mumbai
Dear Saiajith,
Since you will be working in the organisation till 8th - jan. HR dept cannot process your F & F statement now itself. Probably on 6th or 7th you need to submit no dues certificate from all departments (If applicable).
Probably it will be 1 month to 45 days(Based on the organisation size).
Before leaving the organisation check check the following with the HR dept
1. No. of days to be paid ( Including your last month HOLD salary(If applicable) & this month 8 days)
2. Leave days for Encashment.
3. Any Incentives / Medical allowance/ LTA(on Pro-rata basis) - If applicable
4. Gratuity amount( If you have completed 5 or more yrs)
From organisation side you will be deducted for PF / ESI ( If applicable), Any Loan or dues(If applicable), Mobile bill(If applicable), Travel expenses(If applicable), TAX(If applicable).
If you want to withdraw your PF you can apply after 2 months or you can transfer your PF account which your next employer will do through Form 13.
thanks & Regards
Shenbagarajan
From India, Mumbai
Since you will be working in the organisation till 8th - jan. HR dept cannot process your F & F statement now itself. Probably on 6th or 7th you need to submit no dues certificate from all departments (If applicable).
Probably it will be 1 month to 45 days(Based on the organisation size).
Before leaving the organisation check check the following with the HR dept
1. No. of days to be paid ( Including your last month HOLD salary(If applicable) & this month 8 days)
2. Leave days for Encashment.
3. Any Incentives / Medical allowance/ LTA(on Pro-rata basis) - If applicable
4. Gratuity amount( If you have completed 5 or more yrs)
From organisation side you will be deducted for PF / ESI ( If applicable), Any Loan or dues(If applicable), Mobile bill(If applicable), Travel expenses(If applicable), TAX(If applicable).
If you want to withdraw your PF you can apply after 2 months or you can transfer your PF account which your next employer will do through Form 13.
thanks & Regards
Shenbagarajan
From India, Mumbai
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Full n final settlement.doc