Payment of Full and Final Settlement to a Terminated Employee.
I worked as a Senior Accounts Officer for 5 years in a Private Limited Company. I am a permanent employee and having a valid appointment order.
On 26.03.21, my Accounts Manager called me to his cabin and said to me that, MD is not satisfied with me with regard to my performance and hence I have to quit from the company on 31.03.21.
No any termination order in writing issued to me. Just oral telling only.
As instructed, I handed over all my physical and soft files to my manager and left company on 31.03.31 (last working day).
As per the terms of my AO, Full and Final Settlement amount to be paid to me Before or On 30.04.21.
But, F&F paid to me on 15.06.21 (75 days after 31.03.21 and 45 days after 30.04.22). I received all the amounts.
My only one Query:
Whether, I am eligible/entitled to claim Late Payment Interest from my company ?
If your answer is Yes, then please tell me, interest to be demanded for 3 months (Apr 21 to Jun 21 - after last working day on 31.03.21) or for 2 months (Apr-Jun 21 - after F&F payment due date on 30.04.21).
What is the Rate of Interest Per Month?
Please reply to me.
Thanks a Lot.