Dear All,
Pls give me the idea how to calculate the leave encashment if an employee is leaving the job after 4months.
Salary structure is Basic 3520 HRA 800 Conv 500 = Rs4820/month
His 4 months details are:
1 26 working days
2 18 working days
3 31 working days
4 07 working days
With Warm Regards
Vikas Kumar
From India, New Delhi
15Pls give me the idea how to calculate the leave encashment if an employee is leaving the job after 4months.
Salary structure is Basic 3520 HRA 800 Conv 500 = Rs4820/month
His 4 months details are:
1 26 working days
2 18 working days
3 31 working days
4 07 working days
With Warm Regards
Vikas Kumar
From India, New Delhi
according to the factory act an employees is entitled for 1 day leave for every 20 working days. In this case total pl become around 4.
encashment= (Basic/26)*No of Pl
This will give you the desired result.since division by 26 or 30 is vary according different act
Please refer factory act and shop & establishment act.
Regards
Neeraj
From India, Madras
encashment= (Basic/26)*No of Pl
This will give you the desired result.since division by 26 or 30 is vary according different act
Please refer factory act and shop & establishment act.
Regards
Neeraj
From India, Madras
Dear Vikas,
Your company having any leave rule. If you want any help on that than i will give you a leave roule copy for your referance.
As per factory act 1 leave for 20 no of WORKING days, please calculate fist his no of working days. (No. Working Days/20*Basic+DA)
Thanks & Regards.
Atul.
From India, Pune
Your company having any leave rule. If you want any help on that than i will give you a leave roule copy for your referance.
As per factory act 1 leave for 20 no of WORKING days, please calculate fist his no of working days. (No. Working Days/20*Basic+DA)
Thanks & Regards.
Atul.
From India, Pune
Hi All,
I don't think that an employee will be eligible for any leave encashment if he is leaving the job in four months. Actually the Earned Leave/Privilege Leave will be credited to him if he completes 1 year in the present job and most of the companies follow this rule and for factories he should have worked for 240 days in an year in order to be eligible for Annual leave with wages. I hope this is clear to all.
Regards,
PRADEEP
From India, Hyderabad
I don't think that an employee will be eligible for any leave encashment if he is leaving the job in four months. Actually the Earned Leave/Privilege Leave will be credited to him if he completes 1 year in the present job and most of the companies follow this rule and for factories he should have worked for 240 days in an year in order to be eligible for Annual leave with wages. I hope this is clear to all.
Regards,
PRADEEP
From India, Hyderabad
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