Final settlement calculator

A full and final settlement closes the account between an employer and someone who is leaving. It pays what is still owed — salary for days worked since the last payroll, leave earned but not taken where the policy pays it out, and any gratuity, bonus or other amount due — and recovers what the leaver owes, such as an outstanding loan or salary advance, equipment not returned, and pay for notice that was not served.

The net figure is what is paid. When deductions are larger than payments, the result is negative: the leaver owes the difference.

Most lines are a number of days multiplied by a day’s pay, and employers divide the monthly salary in different ways: by 30, by the number of working days, or by the calendar days in the month. Use the basis in the employment contract or the company’s pay policy, because the choice changes every line.

Whether unused leave is paid out, how much notice is required, whether gratuity is due and how it is calculated, and how the settlement is taxed are set by the employment contract and by the law where the person works. The calculator takes each of those as an input rather than assuming a rule, so the same page works for any country. Check them before the settlement is paid.