hi, I wanted to know as per indian law balance prevelliage leave will be encashment when we leave / resign the company. regards Manish L Kotian
From India
From India
Yes absolutely.. Balance PL/EL will be encashed on the last Basic Salary. Regards Hemant Agarwal
From India, Faridabad
11From India, Faridabad
i have also some confusion about the calculation of Enchament of leave whether it will be on Basic plus DA or on gross. In my opinion it should be on gross salary intead of Basic if there is concept of CTC. But if there is no concept of CTC then may be on Basic plus DA, no one will raise objection.
So senior member like RN Khola and Malik etc please clarify the same.
So senior member like RN Khola and Malik etc please clarify the same.
As Hemanth said, even in our company leave encashment is done on the last drawn BASIC+DA. However, if an employee takes excess leave then the recovery is done on the Gross salary. Giri
From India, Bangalore
From India, Bangalore
hi,
Most of the company follow the system to calculate the leave enchashment on the last drawn basic. This is because the CTC involves PF, gratutity which are independant components by itself and which has their own calculation according to the law.
Hence Basic is taken as the mother for the calculation for leave, medical, bonus (es). Some companies might include DA also.
Hope this clarifies.
Regards,
Gayatri
From India, Madras
Most of the company follow the system to calculate the leave enchashment on the last drawn basic. This is because the CTC involves PF, gratutity which are independant components by itself and which has their own calculation according to the law.
Hence Basic is taken as the mother for the calculation for leave, medical, bonus (es). Some companies might include DA also.
Hope this clarifies.
Regards,
Gayatri
From India, Madras
Basically PL is paid in cash to employee on the basis oof (basic + DA).It may be paid on Gross Salary depend on company. Regards Sandeep Kumar
From India, Delhi
From India, Delhi
Hi ,
As per our company practices encashment of PL would on you Last Basic salary drawn ...and if excessive leaves are there than it is deducted from Gross salary ...
please let me know what is as per company / labour law ..?
so it can clear my concepts as per statutory ...
Thanks
Anu
From India, New Delhi
As per our company practices encashment of PL would on you Last Basic salary drawn ...and if excessive leaves are there than it is deducted from Gross salary ...
please let me know what is as per company / labour law ..?
so it can clear my concepts as per statutory ...
Thanks
Anu
From India, New Delhi
Not necessarily. As per law (factories Act I presume) there is no accumulation over 30 days allowed.. Pls check.
However leave for the part of the year will have to be encashed
Also you should check your company HR policy.
From India, Mumbai
However leave for the part of the year will have to be encashed
Also you should check your company HR policy.
From India, Mumbai
hi.I just wanna add one query that can management deny leave encashment.I mean leave encashment is mandatory or not as per Indian Law..
From India, Ranchi
From India, Ranchi
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Village.xls
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