Dear All,
Hope all of you are doing fine.
Can anyone please suggest me what is the maximum number of EL / PL an employee can accumulate in his / her account? i.e. upto what limit one can carry forward these leaves.
If one accumulates that particular no. maximum leaves then when are they entitled for reimbursements for the accumulated leaves.
regards
Seema Gupta
From India, Calicut
1Hope all of you are doing fine.
Can anyone please suggest me what is the maximum number of EL / PL an employee can accumulate in his / her account? i.e. upto what limit one can carry forward these leaves.
If one accumulates that particular no. maximum leaves then when are they entitled for reimbursements for the accumulated leaves.
regards
Seema Gupta
From India, Calicut
Hi Seema,
As per Factory Act 1948 any member can accumulate maximum 30 PL. But I have seen that in many companies and manufacturing units many employees have more than 100 leaves. Any employee can encashment of PL at the time of resignation or superannuation.
Thanks
From India, Gurgaon
As per Factory Act 1948 any member can accumulate maximum 30 PL. But I have seen that in many companies and manufacturing units many employees have more than 100 leaves. Any employee can encashment of PL at the time of resignation or superannuation.
Thanks
From India, Gurgaon
Hi Seema,
Very well defined by Raj..
Actually it depends on company policy.. which differs from one to another..
Some company carry forward only a limited number of leaves.. and rest balanced leaves if any get lapsed...
Even the encshment mode also differs.. some encash at the end of every year and some do the same at the time of separation from the company..
Even some company pay it @basic salary only whereas some @gross salary.
Regards.
Amit Seth.
From India, Ahmadabad
Very well defined by Raj..
Actually it depends on company policy.. which differs from one to another..
Some company carry forward only a limited number of leaves.. and rest balanced leaves if any get lapsed...
Even the encshment mode also differs.. some encash at the end of every year and some do the same at the time of separation from the company..
Even some company pay it @basic salary only whereas some @gross salary.
Regards.
Amit Seth.
From India, Ahmadabad
Dear Seema,
In our organization the maximum number of ELs an employee can accumulate is 60. If they exceed 60, they can encash upto 8 ELs and remaining will get lapsed. For ex: if an employee has 72 ELs, 60 will carry forward 8 he/she can encash and remaining 4 will get lapsed. They can claim for encashment before the financial year end. And amount will be reimbursed along with the next month's salary.
Regards,
Subhash
From India, Hyderabad
In our organization the maximum number of ELs an employee can accumulate is 60. If they exceed 60, they can encash upto 8 ELs and remaining will get lapsed. For ex: if an employee has 72 ELs, 60 will carry forward 8 he/she can encash and remaining 4 will get lapsed. They can claim for encashment before the financial year end. And amount will be reimbursed along with the next month's salary.
Regards,
Subhash
From India, Hyderabad
Does it apply to the companies who are registered under shop and est. act?? regards Seema Gupta
From India, Calicut
From India, Calicut
Hello,
This is my first post on this community. I want another query in this that can a company change his rules regarding EL accumulation limit and encashment limit any time. For example some employees accumulated his leave upto max limit during a period of employment of 10-15 year and suddenly company change his rules to reduce the accmulation limit and laps or freeze the leave more then the new limit.
From Japan
This is my first post on this community. I want another query in this that can a company change his rules regarding EL accumulation limit and encashment limit any time. For example some employees accumulated his leave upto max limit during a period of employment of 10-15 year and suddenly company change his rules to reduce the accmulation limit and laps or freeze the leave more then the new limit.
From Japan
Hello friends,
I am a little confused after hearing that the accumulation is decided by the company.
I spoke to my consultant regarding maximum accumulation of leaves.
He said that the maximum leave with wages a labor can accumulate is 30days and the balance has to be paid by the employer at the start of the subsequent year.
I have a few questions:
1. Is it necessary to give the payment for the excess leaves? can the company set the ratio by itself?
2. what does the law state? is there any mention of the maximum number of of accumulated?
Await your reply.
Thanks & Regards,
Anant Karnani
From India, Jodhpur
I am a little confused after hearing that the accumulation is decided by the company.
I spoke to my consultant regarding maximum accumulation of leaves.
He said that the maximum leave with wages a labor can accumulate is 30days and the balance has to be paid by the employer at the start of the subsequent year.
I have a few questions:
1. Is it necessary to give the payment for the excess leaves? can the company set the ratio by itself?
2. what does the law state? is there any mention of the maximum number of of accumulated?
Await your reply.
Thanks & Regards,
Anant Karnani
From India, Jodhpur
govt is a model employer ie careful study of their rules gives a holistic view. next pick on compensation trends surveys eg by Mercer then frame a policy for your cos
From India, Delhi
From India, Delhi
Hi seema Gupta i can give you a answer about EL/PL accumulattion.The EL/PL shall accumulated up to maximum 60 days.
EL/PL shall eligible only after completion one year.
Employees shall eligible for encashment of 8 days EL/PL every year
From India, Hyderabad
EL/PL shall eligible only after completion one year.
Employees shall eligible for encashment of 8 days EL/PL every year
From India, Hyderabad
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PF on PL SC.doc