Whether it is mandatory to have policy of Leave encashment.
Whether it is covered under any act, law to have leave encashment in company if yes pls provide the legal provisions for the same
REgards
Yogesh
From India, Delhi
Whether it is covered under any act, law to have leave encashment in company if yes pls provide the legal provisions for the same
REgards
Yogesh
From India, Delhi
Hi Yogesh
As per sec 79 (5) of Factories Act, there is a provision of accumulation upto 30 days & unlimited in case of refusal by employer. Such accumulated leaves need to be encashed to employee at the time of separation. However, one can make its own leave encashment policy which I don't think requirement of any law.
Regards
Ravinder Singh
9811144445
From Singapore, Singapore
3As per sec 79 (5) of Factories Act, there is a provision of accumulation upto 30 days & unlimited in case of refusal by employer. Such accumulated leaves need to be encashed to employee at the time of separation. However, one can make its own leave encashment policy which I don't think requirement of any law.
Regards
Ravinder Singh
9811144445
From Singapore, Singapore
Hi All,
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Rajneesh Jain
From India, Ludhiana
I am New to this forum and new to HR as well. I Need all the HR Formats like
1- Appointment Letter
2-Offer Letter
3-Warning Letter
4-Appreciation Letter
5-Apraisal Letter
6-Interview form
7-Exit Interview Format.
8-Payroll Format.
Rajneesh Jain
From India, Ludhiana
Hi All,
I am New to this forum and new to HR as well. I Need all the HR Formats like
1- Appointment Letter
2-Offer Letter
3-Warning Letter
4-Appreciation Letter
5-Apraisal Letter
6-Interview form
7-Exit Interview Format.
8-Appraisal Procedure
9-Payroll Format from attendance to Salary processing in Excel
10-Details about Providdent fund, ESIC, MLWF & Gratuity calculation
11-Bonus calculation
12-Ratio calculation male / female
Thanks & Regards,
Vighnesh Bhuwad
From India, Mumbai
I am New to this forum and new to HR as well. I Need all the HR Formats like
1- Appointment Letter
2-Offer Letter
3-Warning Letter
4-Appreciation Letter
5-Apraisal Letter
6-Interview form
7-Exit Interview Format.
8-Appraisal Procedure
9-Payroll Format from attendance to Salary processing in Excel
10-Details about Providdent fund, ESIC, MLWF & Gratuity calculation
11-Bonus calculation
12-Ratio calculation male / female
Thanks & Regards,
Vighnesh Bhuwad
From India, Mumbai
Dear All,
Rightly quoted, As per Factories act accumulation of Earned leave subjected to max.of 30 days and above 30 days automatically nullified. If Employer agreed to allow to accumulate without putting any conditions, is is allowable and it shall be encashable after resignation/termination, etc., on last drawn salary(Basic+DA).
Few organizations having policy of encashing every year after completion of 30 days of leave accrual inorder to minimise liability and it is good practice also.
Each organizatio shall have its own leave policy provided that Factory act and its rules followed.
Regards
Chandru,
Bangalore
From India, Bangalore
Rightly quoted, As per Factories act accumulation of Earned leave subjected to max.of 30 days and above 30 days automatically nullified. If Employer agreed to allow to accumulate without putting any conditions, is is allowable and it shall be encashable after resignation/termination, etc., on last drawn salary(Basic+DA).
Few organizations having policy of encashing every year after completion of 30 days of leave accrual inorder to minimise liability and it is good practice also.
Each organizatio shall have its own leave policy provided that Factory act and its rules followed.
Regards
Chandru,
Bangalore
From India, Bangalore
Dear Mr. Guptha,
It is upto the companies discretion to follow the factories act or else make their own policies for leave encashment. But in either case company has to pay for the accumulated number of leaves. It is restricted to 30 days in case of an adult worker has worked for 240 days in the previous year under Factories Act
From India, Mumbai
It is upto the companies discretion to follow the factories act or else make their own policies for leave encashment. But in either case company has to pay for the accumulated number of leaves. It is restricted to 30 days in case of an adult worker has worked for 240 days in the previous year under Factories Act
From India, Mumbai
Hi, Can anyone share me the different policies which are mandatory to be maintained by HR. Regards Indugir
From India, Hyderabad
From India, Hyderabad
Dear Friends, I am now moving to Hotel Industry, I want to know about some of the Employee Engagement Activities. Pls. tell me. Regards; Rahul Saxena
From India, Jaipur
From India, Jaipur
There is no statutory compulsion to take a Leave Encashment Policy, but Accounting standards insist on valuation of liabilities like Leave Encashment and Gratuity.
From India, Madras
From India, Madras
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf
EPFO Circular Leave Encashment.jpg