is there any law stating that company has to do the F&F in 30 days or company can take as long as it can!!
your replies are urgently awaited....
Ruchi (HR Manager) 10 April 2009
F&F is full and final settlement which includes the pending salary and benefits if any like leaves....
Rajneesh Malhotra (Advocate) 10 April 2009
A V Vishal (Advocate) 10 April 2009
There must be some provision in the labour act to regulate the full and final payment of an employee. The management cannot hold the pay for an unreasonable time except in case where disciplinary action is initiated by the management against the employee. As Rajneesh suggested that the payment should be done within a reasonable time, the question arises what reasonable time limit is, is it 15 days, 30 days or a period longer than that. I advise you to seek the expert's opinion of some lawyer dealing with labour laws.
badrinath (Sr.Manager-human resources) 13 April 2009
there is no law that the company should settle full and final accounts within 30 days.
however, the standing orders of the company will provide a clause for the period within which the employees final accounts should be settled. hence, pl. refer that.