EMPLOYEE EXPERIENCE
Full & Final Settlement
Exit settlement combining dues, recoveries, encashment and gratuity in one statement.
IN SHORT
What is full & final settlement?
Full & Final Settlement
Exit settlement combining dues, recoveries, encashment and gratuity in one statement.
Employee Experience
What the employee sees — payslips, declarations, claims and requests.
THE PROBLEM
What breaks without full & final settlement
These are the failure modes Indian payroll teams report most often when this is handled on spreadsheets.
Settlement is assembled from four systems and takes weeks.
Outstanding loan balances are not recovered before the final payment.
Gratuity eligibility is judged manually.
The exiting employee receives a net figure with no breakdown.
HOW IT WORKS
Full & Final Settlement inside a BizzField pay run
Where this sits in the five-step cycle, and what it produces.
Single statement
Dues, encashment, gratuity and recoveries combined into one computation.
Automatic recoveries
Loans, advances and notice shortfall pulled in without manual lookup.
Itemised output
The exiting employee receives a breakdown, not just a net amount.
BUILT FOR INDIA
Indian statutory rules, applied automatically
Provident fund, employee state insurance, professional tax and income tax are calculated to current rates and wage ceilings, and follow the employee's actual work location.
PF wage ceiling
Employee and employer provident fund computed on basic wages, respecting the statutory monthly ceiling.
ESI eligibility
Applied to employees under the gross wage limit, with contribution-period rules handled across the cycle.
State-wise PT
Professional tax slabs resolved by work location rather than by registered head office.
TDS & Form 24Q
Projected annual tax spread across remaining months, with quarterly Form 24Q output.
QUESTIONS
Full & Final Settlement, answered
Unpaid salary for the worked period, encashable leave, gratuity where the employee is eligible, and recoveries such as outstanding loans, advances and notice-period shortfall.
Because dues and recoveries are already held in payroll, the computation is produced with the exit rather than assembled afterwards from separate systems.
Yes. Edits, overrides, approvals and reversals are written to an immutable audit log against a named user and timestamp, so a closed cycle can always be explained.
BANKING & COMPLIANCE CONNECTIVITY
Corporate Bank Payouts & Accounting Sync for Full & Final Settlement
Connect monthly pay runs directly to corporate bank transfer files and General Ledger exports — no manual downloads or format conversions.
BANK CONNECTIVITY
1-Click Corporate Bank Salary Transfer
Key Capabilities
- HDFC merged upload & ICICI iMobile Pay formats
- SBI CINB SFTP format & Axis corporate portal
- Kotak Mahindra Bank batch disbursement support
- 1-click generation after CFO pay run approval
Generate salary payout files formatted to the exact specifications of HDFC, ICICI, SBI, Axis, and Kotak corporate banking portals. Upload and disburse salaries in a single action after pay run approval.
STATUTORY & ACCOUNTING
EPFO ECR Filing & Tally GL Journal Export
Key Capabilities
- EPFO ECR file with UAN, EPF & EPS per employee
- ESIC portal challan file generation
- Tally Prime XML voucher export on pay lock
- Form 24Q NSDL quarterly TDS return file
After each locked pay run, BizzField generates the EPFO ECR text file for provident fund challan submission and a structured GL journal voucher file for Tally Prime, Busy, and Zoho Books.
ENTERPRISE SAFEGUARDS
Bank-Grade Data Privacy & DPDPA 2023 Readiness
Every salary record, bank payout file, and tax declaration is encrypted using AES-256 and hosted on sovereign Indian cloud infrastructure.
DATA PRIVACY
India DPDPA 2023 Data Residency
Key Capabilities
- All payroll data on India-localized cloud servers
- Employee consent tracking & audit trail
- Self-serve data erasure on employee exit
- Automatic data retention policy enforcement
All employee financial records, bank account numbers, PAN/Aadhaar identity data, and tax submissions are stored exclusively on India-localized cloud servers with full consent audit logs.
ACCESS CONTROL
Server-Scoped Roles & AES-256 Encryption
Key Capabilities
- Database-level RBAC, not just UI-level flags
- AES-256 at-rest encryption for all payroll data
- Immutable read-access log per record
- Zero cross-department salary data leakage
Role-based access is enforced at the database query level — HR managers, finance teams, and accountants only see the payroll records they're authorized to process, with no cross-team leakage.
See full & final settlement on your own payroll data
Book a walkthrough with our Kanpur-based payroll team and run a sample cycle on your own salary structure.