Hi Prachi
If your organisation will be ready to pay the leave encashment amount per year then you have to calculate the balance leaves as below.
i.g. if an employee having balance of 10 PL(earned leave), 2 CL & 2 SL at the end of year and
His/ her latest gross salary is 6500 per month then your calculation will be as follows.
10+2+2=14 and his/her salary is 6500 per month then the leave encashment will be 6500/31*14=3033.33/-
Feel free to revert if any.
Regards
Ravi Kulkarni
From India, Mumbai
1If your organisation will be ready to pay the leave encashment amount per year then you have to calculate the balance leaves as below.
i.g. if an employee having balance of 10 PL(earned leave), 2 CL & 2 SL at the end of year and
His/ her latest gross salary is 6500 per month then your calculation will be as follows.
10+2+2=14 and his/her salary is 6500 per month then the leave encashment will be 6500/31*14=3033.33/-
Feel free to revert if any.
Regards
Ravi Kulkarni
From India, Mumbai
Hi there,
Enchasing annual leave depends on your annual leave policy
Is your annual leave calendar days
Is your annual leave working days
Matrix for Calculating for each differ divided by the basic salary earned, when calculating leave encashment it does not include sick leave nor casual leave, encashment policies are exclusive to annual leave and overtime earned
From Oman, Muscat
Enchasing annual leave depends on your annual leave policy
Is your annual leave calendar days
Is your annual leave working days
Matrix for Calculating for each differ divided by the basic salary earned, when calculating leave encashment it does not include sick leave nor casual leave, encashment policies are exclusive to annual leave and overtime earned
From Oman, Muscat
Hi,
I m sunil here. I was working pvt sector bank 2 and half years completed and I m serving 2 months notice period. I was having that time pl leaves 98. After relieve my company now 50 days completed but I m not getting my f&f so what is time period so please tell me.how much I will getting the amount.my salary is 15k. So please reply me.
Thanks & Regards
Sunil
From India, undefined
I m sunil here. I was working pvt sector bank 2 and half years completed and I m serving 2 months notice period. I was having that time pl leaves 98. After relieve my company now 50 days completed but I m not getting my f&f so what is time period so please tell me.how much I will getting the amount.my salary is 15k. So please reply me.
Thanks & Regards
Sunil
From India, undefined
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf
EPFO Circular Leave Encashment.jpg