Hi,
I work for an MNC and our corporate handbook (released about 2 months back) says that there is no leave encashment for staff.
However, this is a very standard practice in India. I would like to know the statutory regulation with regard to leave encashment.
Is it mandatory as per law. If yes, which act and what section.
We are not a factory but a software development house in Chennai.
Thanks
Sivaraman
From India, Madras
I work for an MNC and our corporate handbook (released about 2 months back) says that there is no leave encashment for staff.
However, this is a very standard practice in India. I would like to know the statutory regulation with regard to leave encashment.
Is it mandatory as per law. If yes, which act and what section.
We are not a factory but a software development house in Chennai.
Thanks
Sivaraman
From India, Madras
363
Hi Seniors,
I am a HR professional, I am appearing for an interview this Monday with one of the Retail Giants in India for a position of HR Grenealist + Compliance Analyst. Please advise me on the major applicable compliance rules and laws that need to be abided by all companies as a part of HR Compliance.
Will be very thnakful to you.
Regards
Kanika Gupta
From India, Delhi
I am a HR professional, I am appearing for an interview this Monday with one of the Retail Giants in India for a position of HR Grenealist + Compliance Analyst. Please advise me on the major applicable compliance rules and laws that need to be abided by all companies as a part of HR Compliance.
Will be very thnakful to you.
Regards
Kanika Gupta
From India, Delhi
dear shivraman
BOMBAY SHOP AND ESTABLISHMENT ACT 1948 will be applicable to you.as per above said act 21 days earned leave permitted in a year and if u donot take than balance leave will be accumulated and carry forward in your account ,maximum you can accumulate upto 42 days leave in your account which will be encashed when u leave the organisation.while in service encashment of leave is not right.
any other doubt pls feel free to ask.
tks
js malik
From India, Delhi
BOMBAY SHOP AND ESTABLISHMENT ACT 1948 will be applicable to you.as per above said act 21 days earned leave permitted in a year and if u donot take than balance leave will be accumulated and carry forward in your account ,maximum you can accumulate upto 42 days leave in your account which will be encashed when u leave the organisation.while in service encashment of leave is not right.
any other doubt pls feel free to ask.
tks
js malik
From India, Delhi
I have checked the Punjab shops and establishment act, (applicable in Haryana also). Leave encashment is not legally compulsory. We are not paying encashment. EL can be accumulated upto 30 days.
From India, Delhi
From India, Delhi
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PF Case Law - Leave Encashment.doc
Protecting trade secrets when employees leave - India Business Law (1).pdf