Final Settlement & Exit Clearance
Final Settlement & Exit Clearance in PrismERP manages the complete employee exit lifecycle, ensuring that both financial settlements and administrative clearances are handled in a structured and transparent way. The module supports multiple exit scenarios such as resignation, instant release, termination, separation, and retirement, allowing organizations to process each case through a defined workflow that includes recommendation, approval, and settlement stages.
Throughout the process, PrismERP records all necessary information related to the employee’s exit, calculates all earnings and deductions required for the final settlement, and ensures that the final payout is accurate and properly documented. The system also incorporates service benefits that may apply based on factors such as separation type, years of service, or designation, helping organizations apply policies consistently during employee departures.
In addition to financial settlement, the module manages exit clearance activities across departments. It allows organizations to verify requirements such as asset returns, approvals from relevant departments, and other clearance items before completing the employee’s exit. By bringing together resignation management, separation handling, benefit calculation, settlement processing, and clearance tracking, PrismERP ensures that the entire exit process is organized, compliant with company policies, and properly documented before an employee’s record is officially closed.