Here’s what my sender looks like. The attachment of the float assembly is all the way down in the picture. That’s the way it needs to be to get it into the tank. After it’s in the tank you need to slide the float assembly part way up on the fixed vertical frame to achieve the proper adjustment. If left at the bottom as shown the float would lay on the bottom of the empty tank while the gauge would falsely indicate that there is fuel remaining.
Before you put the sending unit into the tank you can preset that adjustment point while holding unit up against the outside of the tank , then marking the vertical frame with a sharpie.