On leaving the company, an employee is entitled for the payment of last working month and this whole process of recovering or paying during the process of resignation is known as Final Settlement. In some companies, the final settlement happens first and then the employee can resign and in other companies, the process of final settlement takes place at a later date.
Sometimes, the need for writing a reminder letter for full and final settlement arises if the process of the final settlement is not initiated or otherwise. If you are confused about creating a reminder letter for full and final settlement to employer then in this post, we have included a full and final settlement letter format for your reference along with all the important details in this context.
Components That Are Included in Final Settlement Sum
Here are some important components that are essential in deciding the final settlement sum and must be always kept in mind while writing a full and final settlement request letter:
- Unpaid salary and arrears
- Unpaid bonus
- Payment of non-availed leaves, if any
Period of Settlement
Though the final settlement is suppose to happen on the last working day of the employee with the company but sometimes it takes time for the papers to get cleared and therefore, the final settlement can happen within the period of 30 to 45 days after the last working day of the employee.
Tips on Writing Full and Final Settlement Request Letter
While writing a full and final settlement letter to HR, here are the points which can help you create a perfect draft:
- Always include the names of the people or parties who are involved in this process.
- Don’t forget to mention the important dates in your letter
- Always check for grammatical errors and spelling mistakes.
- Keep it short and precise
Reminder Letter for Full and Final Settlement to Employer
G-48, Green Apartments
Date: July 30th, 2020
The HR Manager
Zenith Technologies Pvt. Ltd.
Sub: Issuance of Full and Final Settlement
I am writing this letter as a gentle reminder to you in relation with my full and final settlement. Please refer to my letter of resignation, dated june 25th, 2020. Even after the expiry of over 35 days from the date when I resigned, my full and final settlement has not been made which is a matter of serious concern.
I am, therefore, writing this letter in order to request you to complete the process of full and final settlement and have all the dues cleared. I also request you to please share the original statement with me as soon as possible.
Thanking in anticipation.
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Full and final settlement letter central exercise is written for a business purpose and this letter is issued at the time of relieving an employee from a company. Generally, the letter deals with making the complete payment which a company is liable to pay to the concerned employee. The amount of payment depends upon the terms and condition of the company and according which, the payment is made to an employee.
A format of full and final settlement letter is given below. You can add your own information to use the letter as per your requirements. The letter is in word format and if it suits your criteria, you can download it too.
Sample Letter of Full And Final Settlement
Mr. Robert Koch
100 Avenue D,
8th Street, Fort Lee,
Subject: Full And Final Settlement Letter
In respect of your resignation application dated on 16.08.2010, the management of our company accepted your resignation and relieves you from the post of software engineer.
As per your service during the notice period, we attached the cheque amount.
Wish you best of luck for your future.
The letter must contain the amount which is given to the employee and, other than that it should attach all the important details about the employee’s working area so that the concerned person does not have any problem to understand. The full and final settlement worksheet should be attached along with the letter. Generally, it is the payment of working during the notice period in a company. The letter must give an employment detail of the concerned company.