Full and final settlement components and Statutory Compliances employer to take care?


What includes the important components of full and final settlement and Statutory Compliance employer must take care?


Some of the fnf components are :
Unpaid salary
Leave Encashment
Statutory Bonus

Employer should look into-
Provident fund claims: Help employee in getting PF claim withdrawal or transferred to the new entity. For this employees, employer need to get the exit details updated in the EPFO employer portal. Get employee KYC’s added and DSC approved with EPFO employer portal.
ESIC: Get employees exit information updated with the ESIC employer portal.
Relieving & Experience Letter: Provide Relieving & Experience Letter to the employee along with FnF settlement.
FnF Settlement Statement: Provide employee with full and final settlement statement along with a final tax computation statement. This document will help the employee to declare their previous employer income with the newly joined employer.