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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Find enclosed one of the Sample Format of Exit Interview along with Full & Final Settlement.