Hello All,
I was employed with a medium sized Company as AVP - Marketing.
I put down my papers in July'2016 (giving 30 days notice as per my employment terms) but due to urgency of the next Company which I was joining, verbally requested an early release if possible. The Company released me 5 days short of completing 30 days notice period and issued a clean release letter. I did not wait for full & final settlement of my dues but was assured by accounts & HR that it would be settled very shortly.
At the time of resignation, my annual package included an ex gratia component of Rs.2667/month; normal practice in the Company was to pay out this ex gratia component for each FY around Diwali of subsequent year (e.g. ex gratia for FY 2015-16 would be paid in Diwali of 2016).
Hence when I resigned I was eligible for this ex gratia component for full year 2015-16 + April to August of 2016-17.
The Company has sent me a Full & Final statement for my signature after nearly 2 months (deducting 5 days salary for releasing me prior to 30 days) & minus the ex gratia component payable for 2015-16 & April-August'2016-17.
When I am following up with the Company for a revised F&F statement including the ex gratia component due to me, there is total silence and concerned people are avoiding the issue.
My question is how can I ensure that the Company includes the ex gratia amount which was part of my annual CTC and settles the amount without delay. What options do I have in case the Company with holds the ex gratia component and otherwise delays payment. Problem is that I have taken up an overseas assignment after leaving this job and unable to chase up in person as I am not in India.
Will be grateful for advise.
Thanks and regards
From Tanzania, undefined
I was employed with a medium sized Company as AVP - Marketing.
I put down my papers in July'2016 (giving 30 days notice as per my employment terms) but due to urgency of the next Company which I was joining, verbally requested an early release if possible. The Company released me 5 days short of completing 30 days notice period and issued a clean release letter. I did not wait for full & final settlement of my dues but was assured by accounts & HR that it would be settled very shortly.
At the time of resignation, my annual package included an ex gratia component of Rs.2667/month; normal practice in the Company was to pay out this ex gratia component for each FY around Diwali of subsequent year (e.g. ex gratia for FY 2015-16 would be paid in Diwali of 2016).
Hence when I resigned I was eligible for this ex gratia component for full year 2015-16 + April to August of 2016-17.
The Company has sent me a Full & Final statement for my signature after nearly 2 months (deducting 5 days salary for releasing me prior to 30 days) & minus the ex gratia component payable for 2015-16 & April-August'2016-17.
When I am following up with the Company for a revised F&F statement including the ex gratia component due to me, there is total silence and concerned people are avoiding the issue.
My question is how can I ensure that the Company includes the ex gratia amount which was part of my annual CTC and settles the amount without delay. What options do I have in case the Company with holds the ex gratia component and otherwise delays payment. Problem is that I have taken up an overseas assignment after leaving this job and unable to chase up in person as I am not in India.
Will be grateful for advise.
Thanks and regards
From Tanzania, undefined
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Full n final settlement.doc