hi,
please help me.
1. how to calculate earned leave?
2.whether we have to encash them every year for this?
3. whether el to calculated on basic salary or gross salary?
4.even if itis basic or gross whether it is monthly basic ctc or yearly basic ctc?
5.how to calculate EL for month basis and whether the working days are 26 or 30 per month?
plz try to answer each question seperately.it would be greatful if explained with example sheets(ie both salary calculation includes all contents and El calculation)
Kindly help me.
Thank you.
From India, Pune
please help me.
1. how to calculate earned leave?
2.whether we have to encash them every year for this?
3. whether el to calculated on basic salary or gross salary?
4.even if itis basic or gross whether it is monthly basic ctc or yearly basic ctc?
5.how to calculate EL for month basis and whether the working days are 26 or 30 per month?
plz try to answer each question seperately.it would be greatful if explained with example sheets(ie both salary calculation includes all contents and El calculation)
Kindly help me.
Thank you.
From India, Pune
Hi Gnash,
The EL calculation part differes from organization to organization because some companies will give 1 EL for each 18 working days and some will give 15 working days and some of the organizations will have a lumsum type of leave process. But you can work out for every 20 working days one EL subject to a minimum of 240 working days in a year. for arriving 240 days you should also consider ELs availed but EL will be on actual working days. 1/2 day and more fraction can be considered as one leave. Normally the leave will be on calendar year and the leave will be credited to the account of employee on Jan 1st.
Encashment part also differes from company to company. The accumulation will varry between 240 - 30 days and over and above will be encashed and paid along with the salary payble for the month of January.
Most of the companies are paying on Basic + DA + VDA ( if DA and VDA are not applicable then only on basic - very few companies are paying on gross)
Unable to understand the monthly and annual CTC - on the Basic ( Basic + DA + VDA / Gross ) salary in the month of January will calculated.
Normally the calculation will be salary / 30 days or no of days in that month in some companies they will divide the salary by 26 and pay. You can choose any one but for gratuity it should be divided by 26 days.
With best regards - kameswarao
From India, Hyderabad
30The EL calculation part differes from organization to organization because some companies will give 1 EL for each 18 working days and some will give 15 working days and some of the organizations will have a lumsum type of leave process. But you can work out for every 20 working days one EL subject to a minimum of 240 working days in a year. for arriving 240 days you should also consider ELs availed but EL will be on actual working days. 1/2 day and more fraction can be considered as one leave. Normally the leave will be on calendar year and the leave will be credited to the account of employee on Jan 1st.
Encashment part also differes from company to company. The accumulation will varry between 240 - 30 days and over and above will be encashed and paid along with the salary payble for the month of January.
Most of the companies are paying on Basic + DA + VDA ( if DA and VDA are not applicable then only on basic - very few companies are paying on gross)
Unable to understand the monthly and annual CTC - on the Basic ( Basic + DA + VDA / Gross ) salary in the month of January will calculated.
Normally the calculation will be salary / 30 days or no of days in that month in some companies they will divide the salary by 26 and pay. You can choose any one but for gratuity it should be divided by 26 days.
With best regards - kameswarao
From India, Hyderabad
Hi Gnash,
PL/EL depends upon the applicable laws e.g. the industry/location, factories act if yours is a factory, Local Shops and establishment act if its an establishment. For more deatils please let me know the kind of industry u are refering to and the location. Likewise Encashment of leave will also vary depending upon these factors.
Best Regards
Govil
From India, Delhi
PL/EL depends upon the applicable laws e.g. the industry/location, factories act if yours is a factory, Local Shops and establishment act if its an establishment. For more deatils please let me know the kind of industry u are refering to and the location. Likewise Encashment of leave will also vary depending upon these factors.
Best Regards
Govil
From India, Delhi
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