if employee is not serving notice perios how to caluculate full and final settlemenet
From India, Bengaluru
From India, Bengaluru
Dear Vanitha,
Full and Final settlement in case of resignation can comprise of unpaid salary, cash value of EL at credit, gratuity, proportionate bonus and the like depending on the length of service of the employee in the organization.
If the resignation is accepted without actually serving the notice period, the exiting employee can be permitted to buy out the notice period before his relief. If he is not in a position to pay the amount, it can be adjusted against his dues except statutory gratuity in the F&F. If the total amount of F&F payable happens to be less than that of the notice salary, the employee may be asked to remit the amount before his relief; in exceptional cases, the management may consider waiving the notice salary.
From India, Salem
5967Full and Final settlement in case of resignation can comprise of unpaid salary, cash value of EL at credit, gratuity, proportionate bonus and the like depending on the length of service of the employee in the organization.
If the resignation is accepted without actually serving the notice period, the exiting employee can be permitted to buy out the notice period before his relief. If he is not in a position to pay the amount, it can be adjusted against his dues except statutory gratuity in the F&F. If the total amount of F&F payable happens to be less than that of the notice salary, the employee may be asked to remit the amount before his relief; in exceptional cases, the management may consider waiving the notice salary.
From India, Salem
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