The last payroll payment made to an employee upon leaving an organization.
Final pay is the last payment made to an employee when their employment ends. It typically includes their last regular salary, any outstanding holiday pay (for accrued but untaken leave), any bonus owed, and potentially severance or redundancy pay. Many countries have strict legal deadlines for processing final pay — for example, some US states require payment on the employee's last working day. Payroll software automates final pay calculations to ensure accuracy and legal compliance.
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