Full and Final Settlement

In the Full and final settlement page, you can make final settlements like leave encashment and adjustment of bonds and any other compensation balances for a relieved employee.

To perform full and final settlement:

    1. On the HR menu, under Separation, click Full and final settlement.

The Full and final settlement page appears

    1. In the Employee search text box, enter the employee name/employee ID  or press SPACEBAR (on the Keyboard) once and select the employee name and then click Search.

    2. Click the Asset evaluation tab.

The Full and final settlement details appear:

Full and final settlement details

Field

Description

Name

Displays the name of the asset

Comments

Displays the comment related to the asset

Value

Displays the value of the asset

Total

Displays the total value of the asset

    1. Click Save.

The confirmation message appears.

    1. Click the Leave encashment tab.

The Leave encashment information appears:

Leave Encashment

Field

Description

Leave Name

Displays the name of the leave

Balance

Displays the number of balance leave

    1. In the Number of leave for encashment text box, enter the number of leave for encashment of the employee.

    2. Click Save.

The confirmation message appears.

    1. Click the Compensation tab.

    2. In the Compensation text box, enter the compensation of the employee.

    3. Click Save.

    4. Click the Bond tab.

The Bond details appear:

Bond details

Field

Description

Bond name

Displays the bond name of the employee

Bond amount

Displays the bond amount of the employee

From date

Displays the date from which the bond is applicable

To date

Displays the date up to which the bond is applicable

    1. Click Save.

The confirmation message appears.

 

Click to know more:

Separation