Holding of of final settlement amount


Dear Friends,
After my resignation, organization has to pay me the final settlement amount ( the amount which were cut down from the salary as savings). Now organization has to pay me Rs. 4 lakh amount but they are delaying since 2 months. When I have written request mail, the CEO has given following reply

Dear Sharad, 

Definitely, I will think find the first opportunity to release the resources in timeline. However, i am not sure how to balance the requirements of government, clients, PCs and also our consultants who are working really hard. How much ever i try it is difficult to balance all these things. 

With best wishes, 

Thus he is not assuring any way to pay amount in next 2-3 months, he is not even giving any definite time of disbursal. As per company HR policy-
Policy and Practice -Human Resource Management - 2015-2016
Point no. 4.10. RESIGNATION sub section 4.10.3. In all cases, once the final clearance is received, the final settlement amount will be paid to the individual within 90 working days. If it is delayed beyond 6months, ALC India will give the consultant an interest on the final amount at the current SBI bank rate.

as per above mention point organization has to clear amount in 90 days but they are not following that also. Please guide me how to resolve this issue. 

Regards.

 
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FIN

In your query designation is mentioned as ‘consultant’.

The relationship was employer-employee?

 
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