How can admin process employees' Full and Final Settlement?

Created by Product Content Team, Modified on Tue, 12 Mar at 11:57 AM by Product Content Team

Full and final settlement is a mandatory process when an employee leaves an organization, involving the calculation and settlement of all outstanding payments, benefits, and loans.

To process employees' full & final settlement, the admin must perform the following actions:

From the greytHR Admin portal, navigate to Payroll > Payroll Inputs > Final Settlement. The Final Settlement page appears.
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.
From the Employees to be settled dropdown list, search for the employee whose settlement process you want to complete.
Click Next.
Under Step 2: Resignation Details, from the Resignation Submitted On dropdown calendar, select the date of the employee's resignation.
From the Leaving Date dropdown calendar, select the employee's last day.
From the Leaving Reason dropdown list, select the employee's reason for leaving the organization.
From the Settlement Date dropdown calendar, select the settlement date of the employee.
Click Next.
Under Step 3: Notice Pay, select the Notice Required checkbox to activate the notice period for the employee.
In the Notice Period text box, enter the number of days to be served as the notice period.
Based on the Notice Period you have entered system calculates the Shortfall in Notice days automatically.
Click Next.
Under Step 4: Work Days, read and understand the notifications displayed.
Under the Days Worked column, enter the number of days the employee has worked.
Click Next.
Under Step 5: Leave Encashment, enter the employee's leave details.
Click Next.
Under Step 6: Remarks, read and understand the note. To make a different choice regarding the IT declaration, click click here.
In the Remarks text box, enter the remarks, if any.
Click Finish to complete the full and final settlement of the employees. A success message appears.

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