Final Settlement for an employee involves a series of steps. This process starts with gathering leave details and proceeds till generating Payslip.
- Start by clicking on Actions tab and search and select Settle Resigned Employee. Alternatively, you can also Navigate to Payroll > Payroll Inputs > Final Settlement. The Final Settlement page appears.
- Click Settle
- You can choose from the drop down of Separated Employee if the resignation details are updated in Employee information page else Click the Search Employee option button.
- Fill the Employee, Resignation Submitted Onand Leaving Date, Leaving Reason and Settlement Date fields.
- Click Next.
- Select the Notice Required check box if you want the employees to provide a notice.
- In the Notice Period field, type the appropriate days.
- Click Next. The Work Days section appears.
- Modify the work days as required.
- Click Next. The Leave Encashment section appears.
- Type the number of days to be encashed.
- Click Next. The Remarks section appears.
- Type Remarks, if any. Click Finish.
To know more about "Full & Final Settlement Process" click on the below link to watch our video.