FnF stands for Full and Final Settlement, which is the process of calculating all the dues payable to an employee who resigns, retires, or is removed by the management. It is a detailed and organized process that involves a series of activities, including the preparation of an FnF statement, clearance of company assets, and calculation of unpaid salary, unavailed leaves and bonus, gratuity, and deductions. The major components of the FnF settlement can vary based on company policies and labor laws in the specific region or country. The FnF settlement requires expertise in the HR and Payroll domain with precise calculations, and companies often use custom-made software to speed up the process and avoid any errors in calculations. The settlement should take place on the employees last working day, and clearances usually take time, so it is the norm for the FnF to be completed within 30-45 days after the employees last working day. If the employer fails to fulfill the FnF settlement requirements, the employee can contest it legally, and the employer will be liable to pay interest on all the dues as a penalty.