What will be the Full & Final settlement procedure? Do we need to hold the salary from the notice period till the last working day? Please suggest!
From India, Bengaluru
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From India, Bengaluru
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You may act depending upon your company’s standard operating procedure and HR policies of company.
From India, Aizawl
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699From India, Aizawl
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"F&F" settlement denotes the process of the final settlement of all financial dues by and to an outgoing employee on the occasion of his/her termination of employment. It can be finalized in a single go on the very date of termination or in installments within some definite span of time depending on the nature of dues subject to the statutory time limits for payment.
Insofar as the notice period is concerned, if the incumbent is required to serve the entire notice period and does so, the salary for every month shall be paid then and there as usual. There is no necessity to hold until he completes the entire notice period. Doing so would amount to non-payment of salary on time and hence would be unlawful.
From India, Salem
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Insofar as the notice period is concerned, if the incumbent is required to serve the entire notice period and does so, the salary for every month shall be paid then and there as usual. There is no necessity to hold until he completes the entire notice period. Doing so would amount to non-payment of salary on time and hence would be unlawful.
From India, Salem
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