Hi Rohan,
There is standard Tcode available in SAP... for F&F..
PC00_M40_TERM...
All need to do is enter details like personnel Number,,Reason, Notice Period, Leaving Details...
& then execute ....
This will open up a window wherein, you will have mention details like leave encashment, & any other settlement amount relevant to wage types...
& finally Click on Process...
This will automatically trigger separation action... & finally check the simulation it will all the F&F details...
Regards,
Veeram