greytHR Help
Get Started - Admin Portal
Employee Lifecycle
Payroll
๐Ÿ“„ Payroll information overview
Leave Management
Attendance Management
Workflows
Reports
Assets Management
Expense Claims
Integrations in greytHR
Settings
General settings
Employee settings
Related Documents
Payroll settings
More Help Resources
Letter settings
Income tax settings
Leave settings
Claim settings
User settings
Attendance settings
Helpdesk settings
Miscellaneous settings
greytHR Admin portalโ†’

Process employee's full and final settlement

The Final Settlement page in the greytHR Admin portal enables you to process an employee's full and final settlement. You must process an employee's full and final settlement when the employee exits your organization. This page also displays a list of settlements you have processed for a month. You can also lock an employee's settlement details to ensure no further changes occur to these calculations.ย ย 

You can perform the following actions on the Final Settlement page:

  1. Process full and final settlement of an employee.

  2. Lock/unlock the final settlement details of an employee.

To view the Final Settlement page, clickย  Payroll > Payroll Inputs > Final Settlement.

Process full and final settlement of an employee

To process the full and final settlement of an employee, perform the following actions:

  1. On the Final Settlement page, click the Settle Employee button. The Settlement page opens.
    Note: Alternatively, you can navigate to Actions > Payroll > Monthly Actions > Settle Resigned Employee. The Settlement page opens.

  2. Under Step 1: Employee, select the Separated Employee radio button.ย 

    Alternatively, you can select the Search Employee radio button to search for a particular employee.

  3. From the Employees to be settled dropdown list, search for the employee whose settlement process you want to complete.

  4. Click Next.

  5. Under Step 2: Resignation Details, from the Resignation Submitted On dropdown calendar, select the date of the employee's resignation.ย 

  6. From the Leaving Date dropdown calendar, select the employee's last day.

  7. From the Leaving Reason dropdown list, select the employee's reason for leaving the organization.

  8. From the Settlement Date dropdown calendar, select the settlement date of the employee.

  9. Click Next.

  10. Under Step 3: Notice Pay, select the Notice Required checkbox to activate the notice period for the employee.ย 

  11. In the Notice Period text box, enter the number of days to be served as the notice period.

  12. Based on the Notice Period you have entered system calculates the Shortfall in Notice days automatically.

  13. Click Next.

  14. Under Step 4: Work Days,ย read and understand the notifications displayed.

  15. Under the Days Worked column, enter the number of days the employee has worked.ย 

  16. Click Next.

  17. Under Step 5: Leave Encashment, enter the employee's leave details.

  18. Click Next.ย 

  19. Under Step 6: Remarks, read and understand the note. To make a different choice regarding the IT declaration, click click here.

  20. In the Remarks text box, enter the remarks, if any.ย 

  21. Click Finish to complete the full and final settlement of the employees. A success message appears.

Lock/unlock final settlement details of an employee

To lock/unlock the final settlement details of an employee, perform the following actions:

  1. On the Final Settlement page, using the Filter and Employee dropdown lists, customize the list of employees as per your requirements.

  2. Click the Lock/Unlock icon under the Lock / Unlock column for the required employee. A success message appears.

Note: You can also use the Edit, Delete, and Download icons available next to the Lock / Unlock column for editing, deleting and downloading the final settlement details of an employee.

Was this article helpful?


More resources:

โ–ถ Video - Watch ourย how-to videosย to learn more about greytHR.

โ“ FAQs - Solve your queries usingย FAQs.

๐Ÿ“ข Product Update - Read about theย product updates.