Hi, My question is what is the formula of calculating leave encashment.
From India, Gurgaon
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From India, Gurgaon
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Hi, Earned leave is always calculated on basic salary. And it should not be more than 30 for a year. If it is more than that it can be carried forward. Regards
From India, Ghaziabad
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14From India, Ghaziabad
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Dear Pooja,
From where have you come to the conclusion that earned leave is always calculated on basic salary?
R.N.Khola
Sr. Vice President, Labour Law Advisers Association, Gurgaon.
Hi, Earned leave is always calculated on basic salary. It should not be more than 30 days for a year. If it exceeds that, it can be carried forward.
Regards
From India, Delhi
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From where have you come to the conclusion that earned leave is always calculated on basic salary?
R.N.Khola
Sr. Vice President, Labour Law Advisers Association, Gurgaon.
Hi, Earned leave is always calculated on basic salary. It should not be more than 30 days for a year. If it exceeds that, it can be carried forward.
Regards
From India, Delhi
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Hi All,
To calculate leave encashment, we can use the following method to evaluate the leave encashment amount: Basic/26 * No. of Days (EL).
Some companies use the formula: Gross/30 * No. of Days (EL) to evaluate leave encashment.
In my opinion, you should use the first formula, i.e., Basic/26 * No. of Days (EL).
Thanks & Regards,
Sunil Sharma
V3S Group
Email: ssmbahr@gmail.com
From India, New Delhi
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To calculate leave encashment, we can use the following method to evaluate the leave encashment amount: Basic/26 * No. of Days (EL).
Some companies use the formula: Gross/30 * No. of Days (EL) to evaluate leave encashment.
In my opinion, you should use the first formula, i.e., Basic/26 * No. of Days (EL).
Thanks & Regards,
Sunil Sharma
V3S Group
Email: ssmbahr@gmail.com
From India, New Delhi
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Leave Encashment & Salary Calculation.xls x
LEAVE ENCASHMENT NOT INCLUDED IN WAGES FOR P. F. CALCULATION.pdf