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FINAL DRAFT FULL AND FINAL SETTLEMENT AND RELEASE AGREEMENT THIS FULL AND FINAL SETTLEMENT AND RELEASE AGREEMENT (the Agreement) is made and entered into by Permian Highway Pipeline, LLC (PHP) and
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To fill out the full and final settlement, follow these steps:
02
Collect all the necessary information and documents related to the settlement, such as employee details, salary details, pending dues, gratuity amount, etc.
03
Determine the final settlement amount by calculating the pending dues, gratuity, outstanding salary, and any other applicable payments.
04
Prepare a settlement letter or document stating the details of the full and final settlement, including the breakup of the amount, mode of payment, and any terms and conditions.
05
Get the settlement letter reviewed and approved by the concerned parties, such as the employee and the employer.
06
Once the settlement letter is finalized, arrange for the payment of the settlement amount.
07
Issue the necessary documents to acknowledge the receipt of the settlement amount, such as a receipt or an acknowledgment letter.
08
Keep a copy of the settlement letter and related documents for future reference or legal purposes.
09
Ensure that both the employee and the employer have a copy of the full and final settlement for their records.

Who needs full and final settlement?

01
Full and final settlement is needed by:
02
Employees who have resigned or terminated from their employment and are entitled to receive pending dues, salary arrears, gratuity, or any other financial settlement.
03
Employers or companies who are responsible for making the final settlement payments to their employees as per the employment contract or legal obligations.
04
As per the labor laws of certain countries, it is mandatory for both the employee and the employer to process the full and final settlement upon the termination of employment.
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Full and final settlement refers to the process of clearing all dues and liabilities between an employer and an employee when the employment relationship comes to an end.
Both the employer and the employee are required to file full and final settlement to ensure that all dues and liabilities are cleared.
Full and final settlement can be filled out by listing all the outstanding payments, deductions, benefits, and any other relevant information to ensure a smooth settlement process.
The purpose of full and final settlement is to ensure that both the employer and the employee settle all financial and legal aspects of their employment relationship.
The full and final settlement must include details of outstanding payments, deductions, benefits, and any other relevant information related to the end of the employment relationship.
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