Student or Learner
As you are aware, you haven't paid the overtime payment for the period of 07.04.08 to 12.04.08 alongwith my leave settlement for the last vacation. So, please arrage to pay this shortfall as soon as possible.
As you are aware, you haven't paid the overtime payment for the period of 07.04.08 to 12.04.08, nor my leave settlement for my last vacation. Please arrange to pay this shortfall as soon as possible.
Are the terms in bold correct, teachers?
They are both terms I would recognise in this context.
"shortfall" = the sum falls short of what should have been paid.
"leave settlement" is likely to be the amount due in lieu of leave [this will depend on the company concerned and how it negotiates with its employees].
Would 'arrears' have been a better word instead of 'shortfall'?
Not really. The shortfall indicates that the recipient expected a sum, but that the amount paid was less than expected - there was a shortfall.
Something paid in arrears is something that is late in payment or paid after a specified date.
According to the sentences in the lst post, it was a case of payment not received yet rather than 'amount paid was less than expected'
I can see what you are getting at, but in this case it seems there was a shortfall in expected payments over and above the normal salary payments.