Follow the below path to complete the final settlement process.
Final Settlement for an employee involves a series of steps. This process starts with gathering leave details and proceeds till generating Payslip. The following steps help you to execute the process:
- Log on to the greytHR Admin portal using your login credentials.
- Navigate to Payroll > Payroll Inputs > Final Settlement. The Final Settlement page appears.
- Filter out the employees using the Filter and Employee drop downs.
- Click Settle Employee. The Settlement page appears.
- Click the Search Employee option button.
- In the Employee field, search for the particular employee and then click Next. The Resignation Details section appears.
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In the Resignation Submitted On and Leaving Date fields, choose the appropriate date from the calendar.
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In the Leaving Reason field, choose the appropriate reason from the drop-down list.
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In the Settlement Date field, choose the appropriate date.
- Click Next. The Notice Pay section appears.
- Select the Notice Required check box if you want the employees to provide a notice.
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In the Notice Period field, type the appropriate days. Based on the days appearing in the No of Days Served text box, the shortfall in the notice period appears in the Shortfall in Notice days.
You can further modify the shortfall days as required. Based on the shortfall days, a section appears displaying the details of the payroll month, shortfall in notice, and the prorated shortfall in the notice period.
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Click Next. The Work Days section appears.
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Based on the payroll month and working days, the number of days that the employee has worked appears under the Days Worked column. You can modify the days as required.
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Click Next. The Leave Encashment section appears.
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Based on the leave type and the available balance, type the number of days to be encashed.
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Click Next. The Remarks section appears.
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In the Remarks text box, type an appropriate note for the final settlement process.
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Click Finish. The Settlement page appears displaying a summary of the final settlement process. You can then generate a letter, view the salary information and view the settlement details from this page.