Sir,
I am a Logistic executive who had served in a company for 5 years & resigned from service on 31/3/2011 after serving a notice period of 1 month .I have been issued a relieving letter on the same day, But till now the company has not cleared my final settlement when i check with HR i get an information that Finance manager is holding your settlement since there is some discrepancies in stock. I want a solution to this problem
1. Can Company hold my settlement for difference in stocks when the final relieving letter issued.
2.What future course of action to be taken to claim the settlement.
Please help me.
Regards
Lakhs 826
From India, Bangalore
I am a Logistic executive who had served in a company for 5 years & resigned from service on 31/3/2011 after serving a notice period of 1 month .I have been issued a relieving letter on the same day, But till now the company has not cleared my final settlement when i check with HR i get an information that Finance manager is holding your settlement since there is some discrepancies in stock. I want a solution to this problem
1. Can Company hold my settlement for difference in stocks when the final relieving letter issued.
2.What future course of action to be taken to claim the settlement.
Please help me.
Regards
Lakhs 826
From India, Bangalore
Hello Lakhs,
Relieving letter and Full and final settlement are interrelated. Relieving letter is issued to declare the employee is relieved from his responsibilities and his last working day. Full and final settlement takes time, usually done within 1 month from the date of relieving. Now check with you the following -
1. Have you done a proper charge handover note ?
2. Did all pending or ongoing work were detailed in that ?
3. Did you give a proper understanding of critical issues to new person ?
2. Did the person accepting your charge, signed on your note along with your reporting boss ?
If yes to all, company can not withhold your F&F. It seems discrepancies found later, if it was earlier, they would not have issued relieving letter.
However, to keep good relations with past employer, I would advise consult your Finance Manager immediately to know about issues. Try to settle it amicably.
Best wishes.
Vaishalee Parkhi
From India, Pune
175Relieving letter and Full and final settlement are interrelated. Relieving letter is issued to declare the employee is relieved from his responsibilities and his last working day. Full and final settlement takes time, usually done within 1 month from the date of relieving. Now check with you the following -
1. Have you done a proper charge handover note ?
2. Did all pending or ongoing work were detailed in that ?
3. Did you give a proper understanding of critical issues to new person ?
2. Did the person accepting your charge, signed on your note along with your reporting boss ?
If yes to all, company can not withhold your F&F. It seems discrepancies found later, if it was earlier, they would not have issued relieving letter.
However, to keep good relations with past employer, I would advise consult your Finance Manager immediately to know about issues. Try to settle it amicably.
Best wishes.
Vaishalee Parkhi
From India, Pune
Dear Sir/Madam,
At the time of relieving I have handed over my responsibilities & relevant documents with details to my subordinate in front of my Boss and it was duly signed by him stating that there was no objection from him to relieve me. But now the whole issue is revolving around my Finance Manager who during a send off party didn't raise any query nor objected for issue of relieve letter.I had sent a mail personally to him for which there was no reply from his side,nor when I tried to contact him he refuses to pick the phone.
Since I am in urgent need of money please suggest me what best solution is possible whether to proceed through Labour Dept or legal to recover the amt.
Regards
Lakhs826
From India, Bangalore
At the time of relieving I have handed over my responsibilities & relevant documents with details to my subordinate in front of my Boss and it was duly signed by him stating that there was no objection from him to relieve me. But now the whole issue is revolving around my Finance Manager who during a send off party didn't raise any query nor objected for issue of relieve letter.I had sent a mail personally to him for which there was no reply from his side,nor when I tried to contact him he refuses to pick the phone.
Since I am in urgent need of money please suggest me what best solution is possible whether to proceed through Labour Dept or legal to recover the amt.
Regards
Lakhs826
From India, Bangalore
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
Final settlement - dubai.xls