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Full and Final Settlement is the process of settling all financial and legal obligations between an employer and employee when the employment relationship ends. It includes the payment of pending salaries, bonuses, leave encashment, severance pay, and any other dues. This settlement also involves the return of company property and the completion of necessary paperwork. Both parties agree on a final amount, which, once paid, signifies the closure of all employment-related matters. It ensures that both employer and employee are legally protected and that all financial matters are resolved before departure.