Hi, I have quarry about enmeshment of Earned leave kindly suggest what is the formula for calculating EL is it Basic/26*No El or Basic/30* No of EL as per law pls suggest
From United States, Chicago
11From United States, Chicago
Dear Kavitha,
You may see the practice of Leave Encasement in most of Copmany where is not available of P.L,CL AND S.L, most of copmany is providing Leave Encasement lieu of this P.L,CL and S.L etc to there Technician.
For the other details please find attached copy..!!
Thanks..
MR.RAM.
+918790292222
From India, Hyderabad
You may see the practice of Leave Encasement in most of Copmany where is not available of P.L,CL AND S.L, most of copmany is providing Leave Encasement lieu of this P.L,CL and S.L etc to there Technician.
For the other details please find attached copy..!!
Thanks..
MR.RAM.
+918790292222
From India, Hyderabad
Dear Ram,
THanks for your response, but my question is still unanswered.. how are mgt liable to pay goverment if they provide leave encashment to employees..
Else is it better to classify leaves unders CL, SL, Pl - so the Mgt is less liable to leave encashemnt or carry forward...
Hope am able to put up my query right
Thanks
Kavitha
From India, Surat
THanks for your response, but my question is still unanswered.. how are mgt liable to pay goverment if they provide leave encashment to employees..
Else is it better to classify leaves unders CL, SL, Pl - so the Mgt is less liable to leave encashemnt or carry forward...
Hope am able to put up my query right
Thanks
Kavitha
From India, Surat
Dear Kavitha,
Your question is conceived and there is no need of liable to pay to Govt. It's basically depends upon company policy and practice.
Exp: In some company providing PL.CS and SL only to staff and conceived the leave encasement only to technician.
It's helps to control on productivity and practice.
MR.RAM.
+918790292222
From India, Hyderabad
Your question is conceived and there is no need of liable to pay to Govt. It's basically depends upon company policy and practice.
Exp: In some company providing PL.CS and SL only to staff and conceived the leave encasement only to technician.
It's helps to control on productivity and practice.
MR.RAM.
+918790292222
From India, Hyderabad
Dear Kavitha
As Mr Ram Said depending upon the company policy Leave en cashment is calculate. In your company the policy is available.
So according to your policy Leave encashment has caluculated on Basic X No.of Leaves/ 26 days
we need to consider.
Still if you have any doubt pls read Section 10(10AA) as per the income tax act 1961
If you are any quary pls call me
Suresh VVN
Payroll Manager-9848386476
From India, Hyderabad
As Mr Ram Said depending upon the company policy Leave en cashment is calculate. In your company the policy is available.
So according to your policy Leave encashment has caluculated on Basic X No.of Leaves/ 26 days
we need to consider.
Still if you have any doubt pls read Section 10(10AA) as per the income tax act 1961
If you are any quary pls call me
Suresh VVN
Payroll Manager-9848386476
From India, Hyderabad
I also have same query please reply. Is the formula different for White coller and Blue coller?
From India, Pune
From India, Pune
We are an authorized dealer for selling of TATA CARS and we also have authorized service center for the same, my question was is leave encashment and leave policies are applicable to service industries like us
From India, Mumbai
From India, Mumbai
Secondly i would like to know about the leave encashment as it is said that there is 15 days EL for every calender year. I just want to know, this 15 days EL is apart from CL/SL/PL weekly offs and public holidays
From India, Mumbai
From India, Mumbai
Hello Seniors ,
I have a question , i have joined new company and they give 22 leaves in a year, they dont have any bifurcation to it all are PL and only 5 leaves can be en cashed that also during end of financial year and next year leaves also start during starting of new finacial year .
I would like to know what govt rule says because as per my knowledge its calendar year .
please guide
Anticipate for your help.
Regards
Today From India, Mumbai
From India, Mumbai
I have a question , i have joined new company and they give 22 leaves in a year, they dont have any bifurcation to it all are PL and only 5 leaves can be en cashed that also during end of financial year and next year leaves also start during starting of new finacial year .
I would like to know what govt rule says because as per my knowledge its calendar year .
please guide
Anticipate for your help.
Regards
Today From India, Mumbai
From India, Mumbai
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf
EPFO Circular Leave Encashment.jpg