settlememnt related

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jinesh (Querist)
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01 February 2010 Hi,
Dear Sir,
in Employee Settlement i want to know the Following terms:
1) Short term and notice period to be Waived OFf?

2) Notice period

pls explain

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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01 February 2010 Both are inter-realted only

Notice period means - A employee wants to leave or employer wants terminate the employee both side need to give the time for the same that time is called notice period generally 1 month but this is based on the employer policy

Short term and notice period waived off means, suppose in the place of giving 1 month notice, you give only 20 days the balance 10 days is the short term and if that is agreed by the employer that is called waived off

jinesh

jinesh (Querist)
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02 February 2010 hello,
means how it is exactly worked means i get anything for the waived off and what i would lost for waived oiff i could get it well pls explain in another way to get more clarity.
just this is case how it is done:
Joined date: 26.03.09
resig date: 30.11.09
Last Working date:23.12.09

and in Clearance certificate it is written that Notice Period Waived off .

is there any amt recd?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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02 February 2010 No, in actually waived off you will not get anything as money

If you are Notice period for resignation 30 days

You are giving only 20 days only the balance shortage of 10 days you need to pay money to employer as per the agreement but employer wants to write of(waived off) 10 days and relieve you without deducting anything for the 10 days from your final settlement .

I hope this will clear you

jinesh

jinesh (Querist)
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16 February 2010 hello,
again
one example i asked u
joining date:19.06.08
Resign date: 27.01.10
Last working date: 27.01.10

how many days to be deducted.
it is case of short fall of notice period

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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16 February 2010 You need to tell the notice period how much?

jinesh

jinesh (Querist)
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18 February 2010 ok
notice Period 30 days
Second thing
i want to know about the total Full and Final Settlement and PF Settlement. how it would be done at Audit Place.
pls inform me in ur way

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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18 February 2010 Such as a case your not given any notice period to employer and Resigned an same day got relieved. then you have to pay to employer 30 days basic salary as notice period payment, if employer want waive off the notice period you no need to pay anything.PF normal calculation up to what date your salary is calculated up to date they need to calculate PF also and to pay

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