How do we make full and final settlements of employees?
From Pakistan, Islamabad
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From Pakistan, Islamabad
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The full and final settlement of employees typically includes clearing dues like unpaid salary, leave encashment, gratuity (if applicable), bonus, and any other reimbursements. It is processed after an employee resigns or is terminated, and the timeline for this can vary but is usually within 30 days. It also involves ensuring all company property is returned and any loans or advances.
From India, Karimnagar
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25From India, Karimnagar
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If any employee mutually signed any confidential and service agreement to not leave the organization in the next 2 years and deposited a sum of money by check in favor of the company, but after a few days or months, he/she left the job without completing the exit formalities, i.e., Notice Period, Assets Handover, and also breached the agreement.
Please suggest how we can recover the pending dues in this case.
From India, Khopoli
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Please suggest how we can recover the pending dues in this case.
From India, Khopoli
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The query is not clear as to whether opinion is sought on behalf of the employee or management. Assuming it to be management, the first step is to block all and any payment due to the employee. Secondly, tabulate all the claims against the employee. Understand that regarding the amount for the unexpired period of service agreement, only a proportionate amount vis-a-vis the whole period is to be reckoned. After tabulating recovery and payments due, send a recovery notice. Thereafter, you can seek the help of a local lawyer and initiate recovery proceedings in the local civil court.
From India, Mumbai
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From India, Mumbai
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