Dear Sir/Maam, What are the rules for EL enmeshment if staff is remain on job . How many EL should be reserved by HRD while paying the EL. Thanking You.
2
There is no Act to govern/restrict encashment of leave while in service. This is mostly administered by one's own Leave Policy / SO of the Estt. However there are certain restrictions in vogue in Banks, PSUs, quasi-govt. estts. Generally not more 50% of EL/PL at credit is being followed while in service. And on retirement in full subject to maximum of 240 days is encashed. Caution: The encashment of EL/PL is subject to TDS/PF.
From India, Bangalore
From India, Bangalore
Thank a lot . Please focus on reserving EL rules in bank.what are the criteria to keep reserve EL with HR while payment/Adjustment to employee.
What I understand from your query is -
1. How many days of HR of banks should keep as reserve in employees' a/c ?
2. And how it's to be regulated while encashment of EL is administered. Am I correct?
Generally HR of any office won't direct any employee as to how his/her EL should be utilised. It's the prerogative of staff concerned. Sometimes in respect of those sparingly avail EL land up in sacrificing EL as their EL a/c overflow by accumulation beyond maximum limit i.e. 240 days or 300 days whatever their leave policy may be. For various reasons an employee decides to encash EL (this is an option only) which mainly due to following aspects:
1) To avoid sacrificing EL when it gets over and above permissible maximum limit/elapsing;
2) Financial requirements-towards own/family commitments, settle debts, investments etc.
3) To avail Leave Travel facilities and for meeting related expenses.
4) To plan IT obligations etc.
And there is no such a thing called 'reserve & reserve by HR' not only in banks but also with almost all establishments.
May be, considering official exigencies or work load or for want of alternate arrangements the HoDs might ask their staff to restrict quantum of leave one is intended to avail.
From India, Bangalore
1. How many days of HR of banks should keep as reserve in employees' a/c ?
2. And how it's to be regulated while encashment of EL is administered. Am I correct?
Generally HR of any office won't direct any employee as to how his/her EL should be utilised. It's the prerogative of staff concerned. Sometimes in respect of those sparingly avail EL land up in sacrificing EL as their EL a/c overflow by accumulation beyond maximum limit i.e. 240 days or 300 days whatever their leave policy may be. For various reasons an employee decides to encash EL (this is an option only) which mainly due to following aspects:
1) To avoid sacrificing EL when it gets over and above permissible maximum limit/elapsing;
2) Financial requirements-towards own/family commitments, settle debts, investments etc.
3) To avail Leave Travel facilities and for meeting related expenses.
4) To plan IT obligations etc.
And there is no such a thing called 'reserve & reserve by HR' not only in banks but also with almost all establishments.
May be, considering official exigencies or work load or for want of alternate arrangements the HoDs might ask their staff to restrict quantum of leave one is intended to avail.
From India, Bangalore
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Mah Shop & Est (RECS) Rules 2018.pdf