Dear Mr. Krishna,
As per my understanding , an employer can't send any letter for compensation. it is also not clear from your statement for how many days the employee worked with your organisation.
Moreover , Its not a case of termination or resignation. the Employee is absconding . What you can do is just send him a warning letter first to report on duty. After that show -cause-notice( It also depends upon states rule and standing orders of your organization that for after how many days of absentism you send a letter, Normally its after 10 Days) and finally a termination letter. you can deduct the amount from his bonus ,for can hold the salary of that month etc. and ask him for Full and final settlement.
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