Add Employee Termination Details and Final Pay Computation
Proper termination process is followed when an employee is about to leave the company due to either of the following reasons:
- Resignation
- Termination
- Retirement
Resignation
Termination
Retirement
Employee termination details must be updated in preparation for the computation of the employee’s final pay.
To Add Employee Termination Details and Compute Final Pay:
1. From the Employee's 201 Profile, click on the Employment Information tab.
2. Click on Add Termination Information.
3. Enter the necessary information to process the termination.
Final
Pay Start Date Basis
Enter
the start date to be considered for the final pay.
Employee
Last Day
Enter
the date of the employee’s last day.
Proposed
Final Pay Release Date
Enter
the proposed final pay release date. This is used when filtering dates during
the generation of the final pay.
Reason
for Leaving
Enter the employee’s reason for leaving. The available options are as
follows:
- Termination
- Resignation
- Retirement
Remarks
Specify
additional remarks when needed.
4. After all required details are entered, click Proceed to Final Pay button.
5. The following additional data may be added:
Final Pay Start Date Basis | Enter the start date to be considered for the final pay. |
Employee Last Day | Enter the date of the employee’s last day. |
Proposed Final Pay Release Date | Enter the proposed final pay release date. This is used when filtering dates during the generation of the final pay. |
Reason for Leaving | Enter the employee’s reason for leaving. The available options are as follows:
|
Remarks
| Specify additional remarks when needed. |
- Allowances
- Adjustments
- Bonuses
- Commissions
- Deductions
- Loans
- Contributions
6. When all important information is added, click the Calculate Final Pay button.
7. In the Projected Final Pay page, an estimated final pay amount is displayed.
Note:
The Net Pay amount reflected considers that the employee has perfect attendance. The final pay amount may still change depending on the employee’s actual attendance.
8. The user may choose from the options below:
10. When there are no additional changes to be applied, proceed with the employee’s termination process and click on the Save Final Pay details button.
9. Upon clicking the Proceed button, the employee’s final pay details are automatically added to the list for processing of final pay and the employee’s status is changed from ‘Active’ to ‘Semi-Active’.
10. In the Termination Information section, you will see the details and you can still edit/modify the final pay details, or cancel the termination if necessary.
HELPFUL ARTICLE/S
- Allowances
- Adjustments
- Bonuses
- Commissions
- Deductions
- Loans
- Contributions
6. When all important information is added, click the Calculate Final Pay button.
7. In the Projected Final Pay page, an estimated final pay amount is displayed.
Note:
The Net Pay amount reflected considers that the employee has perfect attendance. The final pay amount may still change depending on the employee’s actual attendance.
HELPFUL ARTICLE/S
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