Dear Sir, Can you clarify me on leave encashment? Whether an employee is liable to get all balance earned leave payment when an employer releases the employee from its firm? Thank you
From India, New Delhi
From India, New Delhi
Dear Sir,
An employee worked for three (3) years. He is entitled for 3 days per month of EL. He did not take any leave for last three years. Now he leaves the company. Does he entitled to Leave en-cashment 36 * 3 = 108 days of EL? If so, is it Taxable as per rules of Income Tax Act?
Your kind comments on this is invited.
Thanking you.
P. Hrishikesh Singh
From India, New Delhi
An employee worked for three (3) years. He is entitled for 3 days per month of EL. He did not take any leave for last three years. Now he leaves the company. Does he entitled to Leave en-cashment 36 * 3 = 108 days of EL? If so, is it Taxable as per rules of Income Tax Act?
Your kind comments on this is invited.
Thanking you.
P. Hrishikesh Singh
From India, New Delhi
As per many leave policy of the companies it should like encashing leaves at the time of F&F maximum for 90 dyas
From India, Anantapur
20From India, Anantapur
Yes, an employee is "entitled" to get his unused leave in Leave Encashment.
However, some companies follow stringent policies on Leave Encashment...in case an employee leave during probation period...he may not get Leave Encashment. Also, if an employee absconds, in that case as well, he will not be entitled for any Leave Encashment.
From India, Mumbai
However, some companies follow stringent policies on Leave Encashment...in case an employee leave during probation period...he may not get Leave Encashment. Also, if an employee absconds, in that case as well, he will not be entitled for any Leave Encashment.
From India, Mumbai
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Leave Balance Tracker - Final.xls