Generate Full & Final Statement for exiting employees.
After and employee leaves an organisation, there is a final settlement done for all dues payable to and receivable from the employee. This settlement is called Full & Final or F&F statement. This statement is issued to the employee stating the final balance which is payable to him/her or receivable from him/her.
Runtime HRMS allows you to generate a F&F statement after an employee's exit is processed. To generate F&F statement, go to the, HR Management > Full & Final.
Before generating the Full & Final statement, you have first initiate employee exit. The help article of Initiating employee exit is linked in the Related Topics below.
To generate a Full & Final statement, search the employee by the name or the employee code, who's already exited in the system. After selecting the employee from search results, click on the 'View' to view the Full & Final settlement on screen.
To download the Full & Final statement, click on the 'Export To PDF' button shown above. The statement will be downloaded in the format below with the employee' details like Name, Designation, Department, Location, Cost center, etc. The statement will also contain the final payment settlement details like the amount of Basic Salary, HRA, ESI, PF, and Loan. The exact report time when you downloaded the statement will be mentioned in the Full & Final settlement as follows :
You can send this F&F statement to employee for clarity of settlement and recovery of dues, if any. Usually it is a good practice to issue F&F statement after an employee has left the organisation.