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What do you call the process undertaken when an employee has concluded their employment with some employer, of what amounts of money the employee is due, and what they need to return or reimburse, on all accounts and for all purposes, including overtime, mandatory and voluntary deductions, previously advanced sums etc.?

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  • "Final accounting" sounds like a eulogy.
    – Hot Licks
    Apr 9, 2020 at 0:23

1 Answer 1

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I think you are referring to:

severance package

pay and benefits employees receive when they leave employment at a company unwillfully. In addition to their remaining regular pay, it may include some of the following: Any additional payment based on months of service. Payment for unused accrued PTO vacation time Holiday pay or sick leave.

(Wikipedia)

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  • In India, it is called 'final settlement' whether it is retirement or termination of service.
    – Ram Pillai
    Nov 11, 2019 at 10:50
  • It could just be a paycheck. Severance package is very fancy.
    – Lambie
    Dec 10, 2019 at 21:17

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