Dear Sir,
We are paying EL-Encashment to our employees for 2008 & 2009(2 years).Now the question is EL Encashment to be calculated on the basis of current gross salary drawn i.e.2009 december salary or respective year gross salary,i.e 2008 el for 2008 december gross & 2009 for 2009 gross, which one is currect as per government norms.
Please guide me sir
Thanking You Sir
ramesha
From India, Bangalore
We are paying EL-Encashment to our employees for 2008 & 2009(2 years).Now the question is EL Encashment to be calculated on the basis of current gross salary drawn i.e.2009 december salary or respective year gross salary,i.e 2008 el for 2008 december gross & 2009 for 2009 gross, which one is currect as per government norms.
Please guide me sir
Thanking You Sir
ramesha
From India, Bangalore
We are paying EL-Encashment to our employees for 2008 & 2009(2 years).Now the question is EL Encashment to be calculated on the basis of current gross salary drawn i.e.2009 december salary or respective year gross salary,i.e 2008 el for 2008 december gross & 2009 for 2009 gross, which one is currect as per government norms.
Please guide me sir
Thanking You Sir
ramesha
From India, Bangalore
Please guide me sir
Thanking You Sir
ramesha
From India, Bangalore
Dear sir
We are paying EL-Encashment to our employees for 2008 & 2009(2 years).Now the question is EL Encashment to be calculated on the basis of current gross salary drawn i.e.2009 december salary or respective year gross salary,i.e 2008 el for 2008 december gross & 2009 for 2009 gross, which one is currect as per government norms.
Please guide me sir
Thanking You Sir
ramesha
From India, Bangalore
We are paying EL-Encashment to our employees for 2008 & 2009(2 years).Now the question is EL Encashment to be calculated on the basis of current gross salary drawn i.e.2009 december salary or respective year gross salary,i.e 2008 el for 2008 december gross & 2009 for 2009 gross, which one is currect as per government norms.
Please guide me sir
Thanking You Sir
ramesha
From India, Bangalore
Dear Ramesha,
You are to consider the current salary of the employee when he is accepting the EL encashment & you are offering it.
With Regards,
R.N.Khola
QUOTE=Ramesha.A;996198]We are paying EL-Encashment to our employees for 2008 & 2009(2 years).Now the question is EL Encashment to be calculated on the basis of current gross salary drawn i.e.2009 december salary or respective year gross salary,i.e 2008 el for 2008 december gross & 2009 for 2009 gross, which one is currect as per government norms.
Please guide me sir
Thanking You Sir
ramesha[/QUOTE]
From India, Delhi
363You are to consider the current salary of the employee when he is accepting the EL encashment & you are offering it.
With Regards,
R.N.Khola
QUOTE=Ramesha.A;996198]We are paying EL-Encashment to our employees for 2008 & 2009(2 years).Now the question is EL Encashment to be calculated on the basis of current gross salary drawn i.e.2009 december salary or respective year gross salary,i.e 2008 el for 2008 december gross & 2009 for 2009 gross, which one is currect as per government norms.
Please guide me sir
Thanking You Sir
ramesha[/QUOTE]
From India, Delhi
Dear Ramesh,
Please calculate the current wages rate,also note that accumulation of leave should not be more than 30 in any case,
Ex: One of your employee worked 250 days in 2008 & 250 days in 2009 then total leaves 500/20=25 total leaves balance for a particular employee.
It is up to you/company policy ,if you want to encash these leaves now or you can carryforward becuase you can keep upto 30 leaves in an employee account.
Best Regards
Sajid Ansari
From India, Delhi
Please calculate the current wages rate,also note that accumulation of leave should not be more than 30 in any case,
Ex: One of your employee worked 250 days in 2008 & 250 days in 2009 then total leaves 500/20=25 total leaves balance for a particular employee.
It is up to you/company policy ,if you want to encash these leaves now or you can carryforward becuase you can keep upto 30 leaves in an employee account.
Best Regards
Sajid Ansari
From India, Delhi
EL is normally given to an employee based on the leave earned by way of previous year working. Likewise the employee can avail leave or accumulate it over the years to a limit as decided upon by the concerned firm or company to be used by the employee in future for his own purpose. The accumulated EL of an employee becomes liability for the company. So if the employee decideds to encash it, then the future liability of the company or firm gets decreased. Because the value of a E L is determined on the basis of his Basic Pay and Dearness Allowance (per day basis). Therefore an employee can encash EL accumulated say 30 days in a year if the EL balance is more than 30 days. If it is less than 30 days, then only half the leave in his balance can be encashed. So EL encashment is normally referred to as encashement of leave accumulated (i.e EL not used) over the years in the entire service period.
From India, Bhilai
From India, Bhilai
Hi Leave encashment to be done on the basis of last drawn salary / wage at the time of encashing the leaves. Mohan Rao Manager HR
From India, Visakhapatnam
From India, Visakhapatnam
Dear ramesh. You have calculate EL for enchasement based on currenet month gross or Basic salary. Reagrds Kumar
From India, Bangalore
From India, Bangalore
Dear Ramesh,
for payment of leave encashment the component of basic+da only only to consider rather to gross salary and calculation must be done with 26 days rather to 30 or 31 days.
thanks & regards,
from,
sumit kumar saxena,
9899669071, 0120-4131277
From India, Ghaziabad
for payment of leave encashment the component of basic+da only only to consider rather to gross salary and calculation must be done with 26 days rather to 30 or 31 days.
thanks & regards,
from,
sumit kumar saxena,
9899669071, 0120-4131277
From India, Ghaziabad
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
PF Deduction_Leave Encashment.doc
PF Contribution on Leave Encashment - Clarification by EPFO.pdf