Final Settlement Letter To Employee

Final Settlement Letter To Employee Template for Hong Kong

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Key Requirements PROMPT example:

"I need a Final Settlement Letter to Employee for a senior software engineer in Hong Kong who is resigning voluntarily after 8 years of service, with their last day being March 15, 2025, including provisions for unvested stock options and outstanding project completion bonus."

Document background

The Final Settlement Letter To Employee is a crucial document used in Hong Kong employment relationships to formalize the conclusion of employment and detail all final payments and obligations. It serves as a comprehensive record of the termination process, incorporating requirements under the Hong Kong Employment Ordinance, Mandatory Provident Fund Schemes Ordinance, and other relevant legislation. This document is typically issued shortly after notice of termination or resignation and includes calculations of final salary, statutory entitlements, treatment of benefits, and arrangements for company property return. It provides legal protection for both employer and employee by clearly documenting all aspects of the employment conclusion, helping prevent future disputes and ensuring compliance with local employment laws.

Suggested Sections

1. Letter Header: Company letterhead, date, reference number, and employee's name and address

2. Subject Line: Clear indication that this is a Final Settlement Letter

3. Employment Details: Confirmation of employment period, final position, and last day of employment

4. Final Payment Components: List of all payment elements including salary, notice period payment, and statutory entitlements

5. Payment Timing: Specific details about when and how the final payment will be made

6. Company Property: List of company property to be returned and confirmation of return process

7. Tax Information: Statement about tax treatment of payments and IR56F form issuance

8. MPF Information: Details about final MPF contributions and account arrangements

9. Reference Provision: Information about future reference letters or policy

10. Confirmation and Acceptance: Space for both parties to sign acknowledging the terms

11. Contact Information: Details of who to contact for queries about the settlement

Optional Sections

1. Non-Compete Reminder: Include when the employee was subject to post-employment restrictions

2. Confidentiality Obligations: Include when handling sensitive information was part of the role

3. Outstanding Loans: Include when there are any outstanding loans or advances to be settled

4. Medical Benefits Extension: Include when there's a continuation of medical benefits post-employment

5. Share Options/Awards: Include when the employee has outstanding share options or awards

6. Legal Claims Waiver: Include when there's a mutual agreement to waive any legal claims

7. Severance Payment: Include when employment is terminated due to redundancy

8. Long Service Payment: Include for eligible employees with long service

Suggested Schedules

1. Schedule A - Payment Calculation: Detailed breakdown of all payment components including basic salary, leave pay, and statutory payments

2. Schedule B - Company Property Checklist: Itemized list of company property to be returned

3. Schedule C - Outstanding Expenses: List of any outstanding expense claims and reimbursements

4. Schedule D - Benefits Summary: Summary of any benefits and their treatment post-employment

5. Schedule E - Tax Calculation Summary: Breakdown of taxable and non-taxable components of the final payment

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

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Authors

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