Retirement

i. Full and final settlement process

Refer to the flowchart attached.

ii. Documentation

The following documents gets signed by the employee and is put in the employee file

a. the photocopy of the cheque

b. Full and Final Statement

Retainment

On retirement, the payment of Gratuity and the amount in the Provident Fund is released to the retiree and the retiree is held back as a professional advisor and is provided with a retainership letter

Ex-cadre

On retirement, the retiree is held back as a regular employee but there won't be any statutory payments to the employee(ESI, PF). The employee is provided with the ex-cadre letter and a revised CTC structure.