You have posted that:
--“AS we were registerd employee of A2Z,is there is any law for full and final settlement duration?“
In a given situation employee can invoke the Industrial Employment standing orders Act, Payment of Wages Act, SE Act, and ID Act as per explanation of employee under these Enactments or approach civil court.
Companies burn extra energy to convince employee that he/she is not a workman as many of the enactments favor employee and limit the choice to employer. However designation alone does not decide employee is a workman or not.
As per Industrial Employment (Standing Orders) Act, 1946 employer should pay all wages and issue certificate on last day in office.
You may go thru another interesting thread;
At the following link:
https://www.lawyersclubindia.com/forum/Gratuity-and-compensation-63698.asp#.UDIj9yIWrts
and
https://www.lawyersclubindia.com/forum/Resignation-63710.asp
--“They are repeatedly pointing pendency of fund towards ZTE.”
Is this statement made in writing? Employee should record such transactions {audio/visual} and keep some witness. It seems you are amongst many employees who are suffering. All of you can be witness to each other. All of you can jointly approach Inspector under payment of wages Act, O/o Labor Commissioner.
The business and pendency are between tow companies and wages of employee can not be blocked.
--You should issue a carefully structured representation in writing under acknowledgment to appointing authority, MD, CEO, Company Secretary of both ZTE and A2Z and demand payment of your wages at once.
If no relief is granted all of you may jointly approach the authority under various enactments. All of you may jointly approach a competent and experienced labor consultant/service lawyer with all records and give inputs in person. This shall lower the expenses too.Your lawyer may prefer to issue legal notice and legal notice may fetch you relief.