Will My Company Give Me My Remaining Salary If I Resign?
Understanding the Resignation Process
When considering leaving your current job, one of the most common concerns is whether or not you will receive the full amount of your remaining salary. As a Google SEOer, I can confidently say that, generally, your company will indeed provide you with your remaining salary if you resign, provided you follow the proper resignation procedure.
Key Steps in the Resignation Process
The process of resigning from your job typically involves several steps:
Notification of Resignation
To formally let your employer know about your intention to leave, you must submit your resignation letter. This letter should be submitted at least two weeks before your last working day, depending on the company's policy and local labor laws.
Notice Period
The notice period is the grace period during which you will continue to work and fulfill your duties after submitting your resignation. During this time, you must complete your regular work tasks and not seek new employment.
Completion of Exit Formalities
After the notice period, you still have a few formalities to complete. These may include:
Handing Over Office Assets: This includes IT assets, company equipment, keys, and other valuables. Ensure that everything is in good condition and returned in a timely manner. I-Card: If you have an I-Card (also known as an access card or security card), return it to the designated department. Clearing Any Outstanding Dues: Pay back any unused benefits, clear any outstanding balances, or return any company property. Handling Any Loans: If you have any loans from the company (e.g., advances or equipment financing), ensure that they are repaid or arranged for repayment.Failure to complete these formalities can lead to delays in receiving your remaining salary. Companies take these steps seriously to ensure that the company's property is returned and to clear any administrative issues.
Full and Final Settlement (FFS)
Once all formalities are completed, you will receive the remaining portion of your salary in the form of a Full and Final Settlement (FFS). This is a document that finalize the settlement of all your claims against the company, including your remaining salary and any other benefits or reimbursements due to you. The FFS process usually takes more than a week, as the company needs to verify all the details and process your payments.
Company-Specific Policies
It's important to note that the policies for final settlement can vary between different companies. Some companies pay the remaining salary in full and final settlement, while others may have different processes. For example:
Software Companies
Most software companies adhere to the practice of providing Full and Final Settlement (FFS). The reason for this is that software companies often have strict HR policies and procedures to ensure all necessary documentation and obligations are met before finalizing the payment.
Conclusion and Tips
While the general practice is that you will receive your remaining salary when you resign, it's crucial to ensure that all exit formalities are completed. This will help you avoid any delays in receiving your final paycheck and other benefits. Always communicate with HR to clarify the specific policies and requirements of your company.
If you have any concerns or need guidance, don't hesitate to reach out to HR or your direct supervisor. Clear and open communication can help streamline the process and ensure a smoother transition.