29 December 2009
as i know notice period is that period in which employee lefts his job before the time of superannuation/retirement. some companies like schools have the policy that they will recover the notice amount from the employee if he leaves his employment before his date of superannuation, so this is the misc income of the company. There may be some cases that organization cannot get the notice from the employee who resigns, so this is the loss for the company.
You should as per my opinion do some steps to recover some amount. 1.If the resigned employee tells to you about the transfer of his PF account,first take the notice amount from it. 2.The best part is make the good internal control in the organization by setting up the internal control department otherwise appointing internal control consultants.
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