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Employee Separation & Final Settlement

Employee Separation & Final Settlement

Employee Separation and Final Settlement

Allows both the employer and employee to manage resignation and exit interviews with access to information all in one place. With the integration of payroll and finance, we ensure leave encashment and end of service is taken care of.

DHRP provides you will have the tools to be able to use Employee exit checklists, when an employee leaves a company, you will have access to a step by step procedure to ensure that your employee exit goes smoothly and is compliant with both company and taxation rules & regulations. Once a final settlement is reached and has been processed, both parties will receive all the relevant details in an in-depth report for the employee to sign and return.

What most companies are unsure about

Companies somethings don’t understand the full details of what the Final Settlement process, most companies manually process these which sometimes can be detrimental, by leaving out certain aspects or making an error. With DHRP, we ensure that this process will be a smooth and quick task.

Based on your policy setup, final settlement will be generated automatically, as well as all paperwork and reports need for both parties will be created through the system. With DHRP’s powerful reporting tools, you will be provided with the desired reports, and separation papers for employment for not just mutual separation of employment, but all types of termination.

Most Important Aspects of the Employee Separation Process & Final Settlement

Unpaid Salary

This regards the number of days of unpaid salary, from the employee’s last payroll process, or from their termination day, until the last working day. Any unpaid salary includes all parts of payroll, from reimbursements, bonuses & deductions.

Leave Due
Continuing on from unpaid salary, any accrued annual leave that has not been taken must be paid out during the final settlement.
Redundancy Pay
Every organisation will have contractual amounts that will be paid at termination, Dependent on the Employees will need to be paid that if they are terminated regardless of the reasons for employee separation. This will be added into the final settlement payment
Return Company Assets

If the employee has any credit cards, laptops, phones or even a vehicle that has been provided, will be returned before final settlement to ensure that it will be processed properly and no payment needs to be forfeited.

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