To process employees' full & final settlement, perform the following actions:
- From your greytHR Admin portal, navigate to Payroll > Payroll Inputs > Final Settlement. The Final Settlement page appears.
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Click the Settle Employee button. The Settlement page opens.
Note: Alternatively, you can navigate to Actions > Payroll > Monthly Actions > Settle Resigned Employee. -
Under Step 1: Employee, select the Separated Employee radio button.
Alternatively, you can select the Search Employee radio button to search for a particular employee.
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From the Employees to be settled dropdown list, search for the employee whose settlement process you want to complete.
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Click Next.
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Under Step 2: Resignation Details, from the Resignation Submitted On dropdown calendar, select the date of the employee's resignation.
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From the Leaving Date dropdown calendar, select the employee's last day.
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From the Leaving Reason dropdown list, select the employee's reason for leaving the organization.
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From the Settlement Date dropdown calendar, select the settlement date of the employee.
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Click Next.
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Under Step 3: Notice Pay, select the Notice Required checkbox to activate the notice period for the employee.
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In the Notice Period text box, enter the number of days to be served as the notice period.
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Based on the Notice Period you have entered system calculates the Shortfall in Notice days automatically.
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Click Next.
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Under Step 4: Work Days, read and understand the notifications displayed.
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Under the Days Worked column, enter the number of days the employee has worked.
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Click Next.
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Under Step 5: Leave Encashment, enter the employee's leave details.
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Click Next.
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Under Step 6: Remarks, read and understand the note. To make a different choice regarding the IT declaration, click click here.
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In the Remarks text box, enter the remarks, if any.
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Click Finish to complete the full and final settlement of the employees. A success message appears.
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Related Links:
❓FAQs: To read more FAQs about Full and Final Settlement, click here.
📃Documentation: To learn more about the Full and Final Settlement , click here.
▶Video- To watch video on the Full and Final Settlement, click here.
📢Product Update- To read about the product update, click here.