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Full & Final Settlement Query
#1
Hi All,
I left the organization i was working for in Dec 2016 after serving my stipulated notice period of 2 months. Now when i contact the HR I am being asked to provide investment proof for FY 2016-17 to process my F&F. Am I obligated to provide the investment proof in order for HR to release my settlement? A response and clarity on my query would be highly appreciated.
 
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#2
Hi Kumar,

You should give your investment proof so that company can determine your exact IT deduction based on proofs provided by you.

If you don't provide the investment proof company won't be able to determine actual Income Tax hence will not be able to process your FnF.

In case, you don't wish to give investment proof you can say so, so that company can deduct your income tax considering that you have not made any investment for tax saving.

Same amount will be deducted from your Full and Final.

Also note, if company has considered any investment proof (based on your declaration) earlier, it will be rolled back and your Income tax deduction will increase in your Full and Final.

Hence, my advise, please submit the investment proof, if you have else let them know and get your Full and Final proceed.

Govind Singh Negi
HR Professional- Sr Management
Follow at twitter: @govindsinghneg3 https://twitter.com/govindsinghneg3
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#3
Thank you so much for responding! Much appreciated!


(11-02-2017, 08:22 PM)govindsinghnegi Wrote: Hi Kumar,

You should give your investment proof so that company can determine your exact IT deduction based on proofs provided by you.

If you don't provide the investment proof company won't be able to determine actual Income Tax hence will not be able to process your FnF.

In case, you don't wish to give investment proof you can say so, so that company can deduct your income tax considering that you have not made any investment for tax saving.

Same amount will be deducted from your Full and Final.

Also note, if company has considered any investment proof (based on your declaration) earlier, it will be rolled back and your Income tax deduction will increase in your Full and Final.

Hence, my advise, please submit the investment proof, if you have else let them know and get your Full and Final proceed.
 
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