BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Obligation to pay wage in current coin or currency note All payments to employees must be paid in current coins or current notes, according to the Payment and Wages Act. After getting the employee’s written authorization, the employer pays him/her by check or by crediting the amount to the employee’s bank account.

Detailed explanation-2: -The new wage code says a company must pay the full and final settlement of wages within two days of an employee’s last working day following their resignation, dismissal or removal from employment and services.

Detailed explanation-3: -(1) Every employer is responsible for the payment of all wages to all the employees that he employs. In any other case, if the employer names a person, or if there is a person responsible to the employer or is nominated, then such a person is responsible for the payment of wages.

Detailed explanation-4: -FnF Settlement is also known as the Full and Final Settlement. It is a process of calculating different payable dues to an employee who is resigning, retired, or terminated, from an organization. In this FnF policy, an employee has to be paid for the last working month and tax deductions & bonus earnings.