Respected Seniors,
My query is if an employee submits the resignation then only EXIT formalities to be conducted but if an Organisation terminates an employee whether EXIT formalities to be conducted or not?
And also the terminated employee`s Full & final settlement to be paid when?
Pls. help me in this regard.
Regards
Tiku
From India, Bangalore
My query is if an employee submits the resignation then only EXIT formalities to be conducted but if an Organisation terminates an employee whether EXIT formalities to be conducted or not?
And also the terminated employee`s Full & final settlement to be paid when?
Pls. help me in this regard.
Regards
Tiku
From India, Bangalore
Dear Tiku,
When the employee is terminated, he have to be paid with the notice period. Full settlement has to be paid after completing notice period.
When the employee submits the resignation, he have to work until the notice period and the end of service benefits is to be made as per the labor law...
Exit Formalities is applicable for terminated employee.
From Kuwait, Kuwait
7When the employee is terminated, he have to be paid with the notice period. Full settlement has to be paid after completing notice period.
When the employee submits the resignation, he have to work until the notice period and the end of service benefits is to be made as per the labor law...
Exit Formalities is applicable for terminated employee.
From Kuwait, Kuwait
Dear Tiku,
In case of termination the company needs to be extra cautious as one wrong decision may land the company in trouble. yes in case of termination the employee is entitled to all the exit formalities.
but you failed to mentioned why the employee has been terminated?
there will be separate procedure for an employee who has been terminated because of any misconduct and the employee who has been terminated without conducting misconduct.
i am replying assuming both conditions.
1st condition termination due to misconduct.
after conducting a proper enquiry of the misconduct in a domestic enquiry, the punishment of dismissal may be awarded. in such case the company need not to give him any retrenchment compensation. On the contrary the company may forfeit his Gratuity to the extent the monetary loss is caused to the company due to his misconduct. but if after adjusting that amount some amount is left the same has to be paid to the employee. his PF must be cleared and no deduction from it can be made. all other due have to be cleared.
2nd condition termination not due to misconduct
If the employee has been terminated for any other reason whatsoever other than the punishment resulting due to misconduct. the company will have to pay him the retrenchment compensation as per the statutory norms. his leave encashment, gratuity, notice pay any other due and PF MUST be cleared forthwith. Keep it in mind that any failure may land the company into the loop of labour laws.
in case of any other clarification please feel free to call me.
From India, New Delhi
In case of termination the company needs to be extra cautious as one wrong decision may land the company in trouble. yes in case of termination the employee is entitled to all the exit formalities.
but you failed to mentioned why the employee has been terminated?
there will be separate procedure for an employee who has been terminated because of any misconduct and the employee who has been terminated without conducting misconduct.
i am replying assuming both conditions.
1st condition termination due to misconduct.
after conducting a proper enquiry of the misconduct in a domestic enquiry, the punishment of dismissal may be awarded. in such case the company need not to give him any retrenchment compensation. On the contrary the company may forfeit his Gratuity to the extent the monetary loss is caused to the company due to his misconduct. but if after adjusting that amount some amount is left the same has to be paid to the employee. his PF must be cleared and no deduction from it can be made. all other due have to be cleared.
2nd condition termination not due to misconduct
If the employee has been terminated for any other reason whatsoever other than the punishment resulting due to misconduct. the company will have to pay him the retrenchment compensation as per the statutory norms. his leave encashment, gratuity, notice pay any other due and PF MUST be cleared forthwith. Keep it in mind that any failure may land the company into the loop of labour laws.
in case of any other clarification please feel free to call me.
From India, New Delhi
Dear Tiku,
When an employee is terminated on disciplinary ground or he resigns himself, the exit procedures have to be followed. Like payment for unutilized leave etc. However fines and damages could be recovered before releasing final payment.
Regards
Zafar Deen
From Sri Lanka, Kandy
When an employee is terminated on disciplinary ground or he resigns himself, the exit procedures have to be followed. Like payment for unutilized leave etc. However fines and damages could be recovered before releasing final payment.
Regards
Zafar Deen
From Sri Lanka, Kandy
Hello Sir, I need your assistance for the same issue...Please do let me know the suitable time to cal you OR you can contact me on 9968029775. Regards Ruchi Tyagi
From India, Delhi
From India, Delhi
Dear Ruchi, call me at your convenience at any time on the number given below my signatures.
From India, New Delhi
From India, New Delhi
Hi Tiku,
Resignation is a Voluntary act on the part of the employee and Termination is a company initiated one.
As per the NDA (Non Disclosure Agreement) most of the companies have incorporated this clause of either parties paying the other, i.e., the company has to pay the employee if it terminates him/her or the employee pays the notice period amount to the company for leaving earlier than the agreed period.
If an employee is terminated as per disciplinary proceedings the company is not liable to pay the employee for terminating/releasing him/her.
Its better for the employee to refer to the signed copy of the Offer Letter in which the HR Head would have signed. This would help the employee to fight it out legally if there is any aberration to the clauses mentioned therein.
Regards
Jean Walter
From India, Coimbatore
Resignation is a Voluntary act on the part of the employee and Termination is a company initiated one.
As per the NDA (Non Disclosure Agreement) most of the companies have incorporated this clause of either parties paying the other, i.e., the company has to pay the employee if it terminates him/her or the employee pays the notice period amount to the company for leaving earlier than the agreed period.
If an employee is terminated as per disciplinary proceedings the company is not liable to pay the employee for terminating/releasing him/her.
Its better for the employee to refer to the signed copy of the Offer Letter in which the HR Head would have signed. This would help the employee to fight it out legally if there is any aberration to the clauses mentioned therein.
Regards
Jean Walter
From India, Coimbatore
Hello Ruchi,
For security/other reasons, I would request you to refrain from posting your phone number in the public forum. If you want to contact a member, please send a private message. I have a bad experience.
From India, Delhi
For security/other reasons, I would request you to refrain from posting your phone number in the public forum. If you want to contact a member, please send a private message. I have a bad experience.
From India, Delhi
Dear All,
Greeting of the day!!
Termination and resignation both are not good for any organization,
Resignation - Employee will complete notice period,
Termination- company will pay all dues if eligible,
but in both case need to complete all formalities.
With regards,
Sameer K Ghosh
From India, Daman
Greeting of the day!!
Termination and resignation both are not good for any organization,
Resignation - Employee will complete notice period,
Termination- company will pay all dues if eligible,
but in both case need to complete all formalities.
With regards,
Sameer K Ghosh
From India, Daman
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Hello Seniors.doc
Termination-emp loyment_563.pdf
Resignation Letter.jpg