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Dear Harry,
EL= Basic+DA/26*Remaining days, as simple is this.
But if employee will on leave you deduct the payment from gross not only from basic, so pay them on Gross,
For you the formulla will be:
EL= Gross/26*remaining days
CL,SL, never encash.
Vikas Sharma
Jodhpur
From India, Jodhpur
EL= Basic+DA/26*Remaining days, as simple is this.
But if employee will on leave you deduct the payment from gross not only from basic, so pay them on Gross,
For you the formulla will be:
EL= Gross/26*remaining days
CL,SL, never encash.
Vikas Sharma
Jodhpur
From India, Jodhpur
Dear Harry
# If your question pertains to "workman" - The EL should be considered on the Basic+DA+and allowances.
In short the amount he will get (wage for a day) if he avails that Leave.
# In case of Non workman (executives) the company can have its own policy whether to pay on Basic only or on total CTC depending upon the objective- weather you want employees to avail more leaves and help them to maintain work-life balance or you want them to put more days for company and pay for it to motivate them.
Hope this helps you.
Regards
Shailesh Parikh
Vadodara, Gujarat
99 98 97 10 65
From India, Mumbai
# If your question pertains to "workman" - The EL should be considered on the Basic+DA+and allowances.
In short the amount he will get (wage for a day) if he avails that Leave.
# In case of Non workman (executives) the company can have its own policy whether to pay on Basic only or on total CTC depending upon the objective- weather you want employees to avail more leaves and help them to maintain work-life balance or you want them to put more days for company and pay for it to motivate them.
Hope this helps you.
Regards
Shailesh Parikh
Vadodara, Gujarat
99 98 97 10 65
From India, Mumbai
Dear All: EL is to be encashed on Basic only & not on gross. It is in line with IT Act 1961, wherein exemption is given only on encashment done on Basic. Rgds Dxion, Tata Trent, Pune
From India, Mumbai
From India, Mumbai
It depends on your policy.If you are allowing strictly as per FA Act,@ one day for every 20 worked days.If it is an establishment (in kerala) flat 12 EL for an employee who has worked in the previous year for 240 days.This can be accumulated to 24 days.In factories also this 240 days criteria is there.
Varghese Mathew
9961266966
From India, Thiruvananthapuram
Varghese Mathew
9961266966
From India, Thiruvananthapuram
Dear Colleagues,
I agree with our seniors;
that EL/PL Encashment is on Basic+DA..(whether working or ex-employee..)
i.e. EL/PL= Basic+DA/26*No. of Days
&
EL/PL availed/leave taken is on Gross Salary..(which means an employee is working within a company, however he/she has taken leave(s) for some personal exigencies)
i.e. EL/PL= Gross Salary/30*No. of Days
I hope am not mistaken, however if am so, I request seniors to correct me & please share your knowledge with us..
Thank you.
From India, Mumbai
I agree with our seniors;
that EL/PL Encashment is on Basic+DA..(whether working or ex-employee..)
i.e. EL/PL= Basic+DA/26*No. of Days
&
EL/PL availed/leave taken is on Gross Salary..(which means an employee is working within a company, however he/she has taken leave(s) for some personal exigencies)
i.e. EL/PL= Gross Salary/30*No. of Days
I hope am not mistaken, however if am so, I request seniors to correct me & please share your knowledge with us..
Thank you.
From India, Mumbai
Hi! Can anybody tell me from which time is E.L. should be counted, from the date of appointment or from the date of confirmation? Adhip Sen_gupta
From India, Patna
From India, Patna
Again a lot depends on Co policy.Better to count it from DOJ but allow to avail it after confirmation. Varghese Mathew
From India, Thiruvananthapuram
From India, Thiruvananthapuram
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