Hi friends
We annouced pay hike for an employee on 1st march ,he resigned on 16 march but we asked him to continue till 7 of April. Now in the F&F salary calculation for the seven days in april ,is it ok if we calculate at the earlier rate or we have to do at the revised rate.
I would be grateful if anyone could answer my query
Thanks
Neel
From India, Pune
We annouced pay hike for an employee on 1st march ,he resigned on 16 march but we asked him to continue till 7 of April. Now in the F&F salary calculation for the seven days in april ,is it ok if we calculate at the earlier rate or we have to do at the revised rate.
I would be grateful if anyone could answer my query
Thanks
Neel
From India, Pune
It depends on the type of pay hike. Whether the same was for all the employees or only for that particular employee as a part of retention.
If it is for all, then F&F settlement should be calculated considering his new salary else old salary has to considered for his F&F settlement.
If it is for all, then F&F settlement should be calculated considering his new salary else old salary has to considered for his F&F settlement.
Hi Neel,
In your description for the pay hike you have mentioned that you announced it on 1st March but in that did you mention that from when the revised salary be effective? I mean did you mention this w.e.f 1st March; If you did then the F&F will be on the new salary otherwise the Old salary would be applicable.
I think you must be through with the F&F of the concerned employee by now in correspondence to your date of request, let me know how did you conduct the F&F of the employee.
Thanks
Geetika
From India, Bangalore
In your description for the pay hike you have mentioned that you announced it on 1st March but in that did you mention that from when the revised salary be effective? I mean did you mention this w.e.f 1st March; If you did then the F&F will be on the new salary otherwise the Old salary would be applicable.
I think you must be through with the F&F of the concerned employee by now in correspondence to your date of request, let me know how did you conduct the F&F of the employee.
Thanks
Geetika
From India, Bangalore
Neel,
If you are paying the March salary as per new structure F&F will have the new structure. If the hike was not confirmed in writing than you have an option to process the F&F at the old rate also.
Anand
From United States
2If you are paying the March salary as per new structure F&F will have the new structure. If the hike was not confirmed in writing than you have an option to process the F&F at the old rate also.
Anand
From United States
His F&F settlement will be according the new salary, as you already salary for march with revised rate according to salary revision w.e.f. 1st march thanks
From India, Mumbai
From India, Mumbai
Hi Neel, :P
I think you must calculate the physical working days of the employees during the increment date to the resignation date.
If it is =>2/3rd of the total days then you should give him his full and final settlement according to the new rate other wise you can calculate his f7F only giving arrear for the current month and rest of the compensation will be according to the old wages.
regards
Sachin Pathak
Manager-HR
RR Honda, Delhi
From India, Delhi
I think you must calculate the physical working days of the employees during the increment date to the resignation date.
If it is =>2/3rd of the total days then you should give him his full and final settlement according to the new rate other wise you can calculate his f7F only giving arrear for the current month and rest of the compensation will be according to the old wages.
regards
Sachin Pathak
Manager-HR
RR Honda, Delhi
From India, Delhi
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Full n final settlement.doc