Anoop K (Marketing Mgr) 08 May 2011
Hi....
Are there any laws governing the time period for final settlement to employees? I remember reading it somewhere that the Final Settlement should be executed within 90 days from the last working date. But I'm not sure if there are any laws that govern this.
Please advise, as I need this information immediately!
V. VASUDEVAN (LEGAL COUNSEL) 09 May 2011
The settlement of dues of an employee on termination is governed by the Shops & Establishments Act of the concerned State and its rules. Please check this with your State Act/Rules. If you have no access to this, give more details of your establishment for suitable response.
Vasudevan
Anoop K (Marketing Mgr) 09 May 2011
Hi Vasudevan Sir..... Thank you for your quick response.....
The company is incubant in Bangalore.... and so the laws pertaining to the Karnataka State would be applicable. I have no access to any such legal information..... It would be of great help if you could also quote the section and sub-section if any, for such a governing law.....
Thanks in Anticipation!
V. VASUDEVAN (LEGAL COUNSEL) 09 May 2011
Please read the attachment (deals with notice, leave pay etc., to be paid before the next pay day. Payment of Wages Act is also applicable and any wages has to be paid/settled before the next pay day.
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