Gratuity & Final Settlement
Error-free exits. Automated calculation of all dues, deductions, and payouts in a comprehensive FnF statement.
Full & Final Settlement - John Doe
Trusted for accurate payroll
Settlement in One Click
Complex FnF calculations often delay exit processes. Kiework integrates all data points to generate accurate settlement statements instantly.
Auto-Calculation
Calculates pro-rata salary, notice pay recovery, leave encashment, and gratuity based on tenure.
FnF Statement
Generates a detailed, professional Full & Final settlement statement PDF for employee sign-off.
Bank Transfer
Once approved, the FnF amount is added to the next bank transfer batch automatically.
The Science of the Clean Break: Error-Free FnF
The Full & Final (FnF) settlement is the most complex payroll activity. It involves consolidating data from multiple sources: unpaid days from attendance, unutilized leave for encashment, gratuity based on tenure, and recoveries for notice periods or unreturned assets. Errors here lead to delayed exits, legal disputes, and disgruntled former employees. Kiework automates this entire calculation engine.
Automating Gratuity and Statutory Dues
Gratuity calculation is often a source of confusion. Does the employee have 4 years and 7 months of service? Does that round up to 5 years for gratuity? What was their last drawn basic? Kiework’s engine is pre-configured with regional labor laws (like the Payment of Gratuity Act in India or UAE Labor Law). It automatically calculates the correct payout based on the exact date of joining and the last working day, ensuring your settlement is legally bulletproof.
The "Recovery" Logic
Final settlements aren't just about payouts; they are about balancing the books. If an employee is leaving before serving their full notice period, the system calculates the "Notice Recovery" amount based on their gross salary. If the IT team has flagged a damaged laptop, that recovery amount is also pulled in. This transparent list of earnings and deductions is presented in a clear FnF statement, which the employee can review and sign digitally, reducing the "Where did my money go?" queries.
One-Click Disbursement
Once the FnF statement is approved by HR and Finance, Kiework generates the bank upload file for the final disbursement. This ensures that the employee receives their settlement within the statutory timeframe (e.g., 48 hours or the next payroll cycle), maintaining your reputation as a professional employer that respects the "Last Day" experience.
