Dear All,
I want to know what Full & Final comprises of, i.e., if I left my job with the salary of that particular month, what does the full & final settlement mean for me? Also, when I'm claiming it from my company, they are asking me to mail it via my reporting manager, who is not responding to my emails.
Do Full & Final settlements require reporting manager authorization? What if he refuses to provide it? The company insists that without his permission, they can't release my Full & Final settlement.
Please help.
From India, Jamshedpur
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1I want to know what Full & Final comprises of, i.e., if I left my job with the salary of that particular month, what does the full & final settlement mean for me? Also, when I'm claiming it from my company, they are asking me to mail it via my reporting manager, who is not responding to my emails.
Do Full & Final settlements require reporting manager authorization? What if he refuses to provide it? The company insists that without his permission, they can't release my Full & Final settlement.
Please help.
From India, Jamshedpur
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Hi,
Full and Final Settlement is the total amount owed to the employee, which is payable by the company. It includes salary, leave encashment, overtime payment, bonus, etc. Any deductions, such as notice period, extra payments, or debit notes, are also mentioned.
Full and Final Settlement requires approval from the reporting manager (Department Head). You need to meet with your reporting manager to address any issues or confusion.
Regards,
Hardik
From India, Ahmadabad
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Full and Final Settlement is the total amount owed to the employee, which is payable by the company. It includes salary, leave encashment, overtime payment, bonus, etc. Any deductions, such as notice period, extra payments, or debit notes, are also mentioned.
Full and Final Settlement requires approval from the reporting manager (Department Head). You need to meet with your reporting manager to address any issues or confusion.
Regards,
Hardik
From India, Ahmadabad
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Hi,
Every company has a procedure for full and final settlement. That is, acceptance of the resignation letter is enough, or a checklist is maintained and you have it signed by various departments or only by your reporting manager.
Full and final settlement means all liable monetary dues between you and your leaving company are settled, and there is no financial liability existing. From there on, you are no longer an employee of that company. Your personal file is also closed with a copy of your F&F settlement.
The F&F settlement includes any salary, leave wages, incentives, bonus, and gratuity. Any debt/loan, advance, or applicable statutory deductions are also made if any.
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Every company has a procedure for full and final settlement. That is, acceptance of the resignation letter is enough, or a checklist is maintained and you have it signed by various departments or only by your reporting manager.
Full and final settlement means all liable monetary dues between you and your leaving company are settled, and there is no financial liability existing. From there on, you are no longer an employee of that company. Your personal file is also closed with a copy of your F&F settlement.
The F&F settlement includes any salary, leave wages, incentives, bonus, and gratuity. Any debt/loan, advance, or applicable statutory deductions are also made if any.
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Full n final settlement.doc
Full & final.xls