Hi well in our organisation it is basic/30*no of PL in case of workers it is basic/26*no of PL
From India
1From India
Dear Vibhor,
The leave encashment is to be done on gross salary including Basic Salary, HRA, DA, Conveyance & all payments given to employee in the head of Salary/ Wages as per the statutory Regulations/ Leave Rules/ Industrial Act 1948. This head does not includes the Overtime, Meals, Incentives & any other allowance which is not paid regularly under the head of salary/Wages.
But most of the companies manupulate the laws & do not pay the reimbursements on gross salary. Karnataka High Court has already given a judgement in 2007 that manupulation in laws by the companies is not acceptable in the court of law & the decision goes against the company.
Hope you have got the answer of your querries.
From India, Haryana
The leave encashment is to be done on gross salary including Basic Salary, HRA, DA, Conveyance & all payments given to employee in the head of Salary/ Wages as per the statutory Regulations/ Leave Rules/ Industrial Act 1948. This head does not includes the Overtime, Meals, Incentives & any other allowance which is not paid regularly under the head of salary/Wages.
But most of the companies manupulate the laws & do not pay the reimbursements on gross salary. Karnataka High Court has already given a judgement in 2007 that manupulation in laws by the companies is not acceptable in the court of law & the decision goes against the company.
Hope you have got the answer of your querries.
From India, Haryana
Dear Vittala,
An employee is not entitled for any leave during his first 30 days of service.
After completiion of 30 days, he is entitled for Casual Leave & Medical Leaves.
After completion of 1 yrs service he becomes eligible for previllage/ Earn Leaves.
Hope u have got the answer for your querries.
From India, Haryana
An employee is not entitled for any leave during his first 30 days of service.
After completiion of 30 days, he is entitled for Casual Leave & Medical Leaves.
After completion of 1 yrs service he becomes eligible for previllage/ Earn Leaves.
Hope u have got the answer for your querries.
From India, Haryana
hello everyone,
can anyone pls help me make a letter asking my company to pay me cash in lieu to my annual ticket to my home country? how to ask and what should i say to convince my company to give me cash instead of air tickets? because the ticket which they will going to take for me is to the capital of my home country but i'm living far from our capital city. i want to buy my own ticket to save money and time travelling. is this posible? pls help me :(
From United Arab Emirates, Abu Dhabi
can anyone pls help me make a letter asking my company to pay me cash in lieu to my annual ticket to my home country? how to ask and what should i say to convince my company to give me cash instead of air tickets? because the ticket which they will going to take for me is to the capital of my home country but i'm living far from our capital city. i want to buy my own ticket to save money and time travelling. is this posible? pls help me :(
From United Arab Emirates, Abu Dhabi
I too agree with Prasanth. Encashment practice would differ from company to company. As per our company policy/practive we are considering gross salary for the same. -Anoop
Dear Vittala,
As per our company leave policy the employee is eligible for 2 flexible leave and 2 sick leave during probation period. After completion of probation the employees are eligible for 12 EL per year.
-Anoop
As per our company leave policy the employee is eligible for 2 flexible leave and 2 sick leave during probation period. After completion of probation the employees are eligible for 12 EL per year.
-Anoop
Hi,
The leave encashment is governed by the factories act.
As has been suggested by other members, while the policy may vary in each company, you may design a leave encashment which will motivate employees to both avail their leave in time ( will boost morale ) and also stay back in the company for a longer time.
There fore you may like to design a policy on the following lines
(a) compute encashment on last basic pay drawn
(b) Have a maximum limit for encashment and tie it with number of years of service rendered. For example, if an employee has rendered 5 yrs service and accumulated 100 leaves, have a policy which says for Service<= 5 yrs, max leave encashment would be for 60 days.
(c) In addition, you can also have a cap on the leaves that can be encashed each year. If EL = 25, you can have a policy which mandates a max of only 15 days for encashment.
The leave encashment is governed by the factories act.
As has been suggested by other members, while the policy may vary in each company, you may design a leave encashment which will motivate employees to both avail their leave in time ( will boost morale ) and also stay back in the company for a longer time.
There fore you may like to design a policy on the following lines
(a) compute encashment on last basic pay drawn
(b) Have a maximum limit for encashment and tie it with number of years of service rendered. For example, if an employee has rendered 5 yrs service and accumulated 100 leaves, have a policy which says for Service<= 5 yrs, max leave encashment would be for 60 days.
(c) In addition, you can also have a cap on the leaves that can be encashed each year. If EL = 25, you can have a policy which mandates a max of only 15 days for encashment.
Hi Though practices may differ from company to company , it is generally basic pay which is taken for leave encashment for Management cadres. Jai
From India
From India
It will depand on the company policy either basic or Gross. regards A.K.Roy Accounts Officer Sathyam Construction Surat.
From India, Jaipur
From India, Jaipur
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf
EPFO Circular Leave Encashment.jpg