Ensure smooth transfer of company assets during an employee’s exit process, protecting both employee and organizational interests.

Asset Handover Form:

HR will provide the “Asset Handover Form” listing all assets assigned to the employee (e.g., laptop, mobile, ID cards, software licenses, access credentials, etc.).

Inspection of Assets:

  1. IT or admin teams will inspect returned assets for damages or missing items.
  2. The employee will be liable for damages beyond normal wear and tear.

Access Revocation:
IT will revoke all access (e.g., email, internal systems) on the employee’s last working day or earlier as decided by management.

Acknowledgment:
HR will provide a clearance certificate post successful handover, mandatory for full and final settlement.

Full & Final Settlement (F&F) Procedure:
Ensure timely settlement of all dues when an employee exits the organization.

Settlement Timeline:
F&F settlement to be completed within 30 days of the last working day.

Components of F&F Settlement:
Salary for days worked (pro-rata basis).
Leave encashment as per company policy.
Deductions for pending loans, advances, or damaged assets.
Gratuity (if applicable as per tenure).

Required Documents:

  • No Due Certificate (HR will confirm clearance from all departments).
  • Exit Interview Form (optional but encouraged for feedback).
  • Settlement Acknowledgment:
  • HR will provide the F&F settlement statement to the employee for acknowledgment.

3. Relieving Policy
Provide a structured process for employee exit and ensure smooth transitions.

Relieving Letter:
Provided on the last working day, subject to completion of notice period and F&F clearance.

Knowledge Transfer:
The departing employee must complete knowledge transfer sessions with designated team members.

Exit Interview:
Conducted by HR to gather feedback and discuss the reason for leaving.

4. Resignation Notice Period Policy
Maintain workforce planning and provide adequate time for transitioning responsibilities.

Notice Period Duration:

  • Employees are required to serve a 30-day notice period unless mutually agreed otherwise.
  • Senior roles may require 60-day notice as per the employment agreement.

Buyout Option:

  • Employees may opt to buy out the notice period subject to management approval.
  • Buyout calculation: [Monthly CTC ÷ 30] × Remaining Notice Period Days.

Leave During Notice Period:

Leaves during the notice period are discouraged and require manager approval.

5. Termination Notice Period Policy

Ensure fairness while allowing the organization to terminate employment in alignment with labor laws.

Immediate Termination:

  • Applicable for gross misconduct or policy violations.
  • A termination letter will outline the reason, effective date, and entitlements (if any).

Performance-Based Termination:

Employees will be provided a 30-day notice or salary in lieu of notice.

Full & Final Settlement:

  • To be processed within 30 days of the termination date.
  • General Notes for Arka Employees
  • All employees must adhere to the policies outlined in this document.
  • These policies are subject to revisions and amendments as required by business needs or legal compliance.
  • HR is the primary point of contact for any clarification or queries.