Full and Final Settlement Format in Excel with Calculations

Introduction

Full and Final Settlement Format in Excel with Calculations

[ad_1]

Full and final settlement calculation includes the last month’s salary of the employee or any previous pending salaries and other earnings such as leave encashment, gratuity, bonus, incentives, etc, and deductions such as salary advances, loans, recoveries, etc.

In general, companies hold the last month’s salary of the employee and it will be settled with the full and final settlement.

Full & Final Settlement Formats in Excel

Download these simple Full and final settlement calculation formats in Excel with auto calculations.

full and final settlement format in excel  with calculations

What does full and final settlement includes

Last month salary Other earnings Deductions
Basic wage Leave encashment EPF
HRA Gratuity Medical insurance
Conveyance allowances Professional tax
Medical allowances Notice pay
Other allowances Loans

Full & Final Settlement FAQs

When will Full and Final settlement will be done

F&F process will be done when the employee resigns and his resignation was accepted by the employer.

The full and final settlement process will start after the last working date of the employee and the final amount will be credited into the bank account of the employee after the regular salary payment date. (Maybe after 10-15 days, it depends on the company)

Required documents for full and final settlement

The employee has to submit no due certificate format approved by each department in the organization.

What if employer is not processing full and final settlement

If an employer fails to settle the full and final settlement of the employees then they are eligible for legal action, in case the employee approaches the concerned labour department.

Is gratuity a part of full and final settlement

Yes, gratuity is part of employee full and final settlement. If your company is covering under payment of gratuity act 1972 they you will get gratuity during full and final settlement.

How full and final settlement amount will be paid

Some companies pay this amount directly into the bank account of the employee and some companies issue a cheque on the name of the employee.

Also read

[ad_2]

Jaspreet Singh Ghuman

Jaspreet Singh Ghuman

Jassweb.com/

Passionate Professional Blogger, Freelancer, WordPress Enthusiast, Digital Marketer, Web Developer, Server Operator, Networking Expert. Empowering online presence with diverse skills.

jassweb logo

Jassweb always keeps its services up-to-date with the latest trends in the market, providing its customers all over the world with high-end and easily extensible internet, intranet, and extranet products.

Contact
Jassweb, Rai Chak, Punjab, India. 143518