Hello, I work in a software organisation with over 3 lakh employees. In our Organisation, they are planning to Encash Casual leave at the end of every year.
Is there any Policy or law regarding this? I just want to know the purpose.
Thanks & Regards
Mani
From India, Avadi
Is there any Policy or law regarding this? I just want to know the purpose.
Thanks & Regards
Mani
From India, Avadi
Hi Buddy,
According to my knowledge there is no provision in Factories act & TN Shops and establishment act specifying encashment of CL if company/organization leave policy framed to facilitate the encashment than they can.
With Regards
Mr.Thumbs Up
From India, Chennai
104According to my knowledge there is no provision in Factories act & TN Shops and establishment act specifying encashment of CL if company/organization leave policy framed to facilitate the encashment than they can.
With Regards
Mr.Thumbs Up
From India, Chennai
Yes there is no law for leave encashment. Some organization do give leave encashment and some don't. My prior company use to give and the present do not have any such policy. So it varies depending on each company leave policy.
From India, Ernakulam
From India, Ernakulam
Even though no restriction of encashment of casual leave, such a facility based on the individual corporate policy may appear to be good. But in the longrun it can run counter to the welfare philosophy underlying the grant of casual leave. The very name " Casual Leave " suggests that it is meant for enabling the paid-employees to discharge their personal or social obligations arising out of unforeseen or contingent circumstances. Particularly in IT and ITES sectors getting casual leave is not so much easy.If it is traded for money at the end of the year, one can not conceive it of as a measure of goodwill to raise the money earnings of the employees for the reason of its annual lapse. On the contrary, it can be viewed as a subtle move to decline it at times of necessity.
From India, Salem
From India, Salem
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