Full & Final Settlement

Vinay Mishra (Querist) 22 March 2010 This query is : Resolved
Dear Sir,

If any employee resigned or ask for resignation in how much time his Full & final settlement will be done.

Regards
Vinay

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adv. rajeev ( rajoo ) (Expert) 22 March 2010
It may be within one month I am not sure.

R.R. KRISHNAA (Expert) 22 March 2010
There is no time limit for these things. Any time which is reasonable may be construed as a time limit.

Parveen Kr. Aggarwal (Expert) 22 March 2010
Yes. There is no specific time limit prescribed.

mahendrakumar (Expert) 23 March 2010
yes,different organisation/dept take different time for settlement. It seems that there is no uniform rules exists in this regard.

If your organsiation is a govt one or funded,you may take the help of RTI route.

I have seen many people successfully using it.

B K Raghavendra Rao (Expert) 23 March 2010
Normally, if a person resigns or he is asked to resign, his accounts should be settled on the date of his relieving. He should be sent along with cheque, relieving letter and of course best wishes.

Payment arrears becomes due immediately upon relieving and hence payment may be demanded forthwith. The pension, provident fund accounts may take a little longer as they should be certified and sent to some other organisation. But, pay, allowances, arrears of bonus, gratuity etc., payable by the employer need to be paid immediately upon relieving.

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