Full and Final Settlement refers to the process of settling all financial dues and obligations between an employer and an employee when the employment relationship comes to an end. It typically occurs upon the employee's resignation, retirement, or termination.
The full and final settlement process is mandatory to avoid the following processes:
- Billing of the separated employee.
- Calculating income tax for the separated employee based on the leaving date.
Looking for More Support?
Find answers and insights across our resources. Refer to our detailed Knowledge Base for in-depth articles, explore our practical video guides, and stay informed with our latest product updates.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article