Employee Exit is the process of separation of an employee from the service of an organization. This can be on account of voluntary resignation, termination, end of a contract, retirement, death or absconding. As part of the exit, the company performs a no-due clearance and processes the final settlement.
When an employee resigns from an organization, HR has to complete the separation process. This consists of:
- Acceptance of resignation by reporting manager
- Negotiation on notice period
- Exit interview
- No objection certificate (NOC) from all concerned departments such as accounts for loans, IT for assets, and admin for ID cards and visiting cards
- Full & Final Settlement
An employee will be relieved from service only on fulfillment of complete separation process.
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