Hi Everyone. Can any One Tell me?? HOW MUCH EL WE CAN ENCASH ON THE TIME OF F & F SETTLEMENT or EVERY YEAR ENDING?? IS THERE LIMITATION ?? What National rules says?? Regards Chitra Singh
From India, Gurgaon
From India, Gurgaon
363
Hi! Everyone,
In Delhi under Contract Labour Act & Building & Other Construction Misc. Provision Act how much earn leave can be encashed at Full & Final Settlement year to year basis?
IS THERE Any LIMITATION ?? What National rules says??
Warm Regards,
Kosh
====
From India, Delhi
In Delhi under Contract Labour Act & Building & Other Construction Misc. Provision Act how much earn leave can be encashed at Full & Final Settlement year to year basis?
IS THERE Any LIMITATION ?? What National rules says??
Warm Regards,
Kosh
====
From India, Delhi
Hi According to shop & establishment Act Delhi at the time of F & F one person can accumulate maximum 45 days leave.But companies amend this accordingly. Regards Kirti Arora
From India, New Delhi
From India, New Delhi
Normally:
ELs can be encashed yearly once.
Number of Earned Leave in a year will vary from establishment to establishment depending on its applicability of Shops & Establishment Act, Factories Act etc.
However, every company will:
1. fix ceiling for maximum accumulation of Els.
2. In encashing ELs, normally, No. of ELs, that would be accumulated in one calendar year will be kept as reserve as limit and above such limit, the balance leaves, will be encashed.
At the time of full and final settlement, all the leaves to his/her credit will be encashed irrespective of the above limit.
This limit for encashing is only to adjust dues, if any, payable by the out going employee, to safe guard the Company's interest / to pay a sizable amount to the outgoing employee.
Regards
From India, Hyderabad
ELs can be encashed yearly once.
Number of Earned Leave in a year will vary from establishment to establishment depending on its applicability of Shops & Establishment Act, Factories Act etc.
However, every company will:
1. fix ceiling for maximum accumulation of Els.
2. In encashing ELs, normally, No. of ELs, that would be accumulated in one calendar year will be kept as reserve as limit and above such limit, the balance leaves, will be encashed.
At the time of full and final settlement, all the leaves to his/her credit will be encashed irrespective of the above limit.
This limit for encashing is only to adjust dues, if any, payable by the out going employee, to safe guard the Company's interest / to pay a sizable amount to the outgoing employee.
Regards
From India, Hyderabad
Good to see valuable contributions. One more query on this...
> If we are giving 1.34 days encashment monthly basis earlier, considered as a part of CTC. Now we want to exclude this option and consider yearly encashment which will impact monthly net pay of the employee. How should we tackle this to convince the employee side and employer side.
> What is best way to convince 16days pay at the year end. Retention plan suggesstions please.
Thanks,
GVR
AVP-HR
From India, Delhi
> If we are giving 1.34 days encashment monthly basis earlier, considered as a part of CTC. Now we want to exclude this option and consider yearly encashment which will impact monthly net pay of the employee. How should we tackle this to convince the employee side and employer side.
> What is best way to convince 16days pay at the year end. Retention plan suggesstions please.
Thanks,
GVR
AVP-HR
From India, Delhi
Hi Chitra,
Leave Encashment will vary depending on the company policy. There is no such limits. for Eg: some company will have 30 days or 60 days as maximum ceiling. If you leave the organization before you accumulate the max ceiling the days wil be encashed at the time of leaving i,e F&F.
Regards
Shankar
From India, Madras
Leave Encashment will vary depending on the company policy. There is no such limits. for Eg: some company will have 30 days or 60 days as maximum ceiling. If you leave the organization before you accumulate the max ceiling the days wil be encashed at the time of leaving i,e F&F.
Regards
Shankar
From India, Madras
Dear Member,
It is always better to post your query on similar or separate thread. This thread relates to leave management. Even then you should first see which of the State Factory Rules are applicable to you & then go through those Rules for various forms for maintaining registers & records.
Regards,
R.N.Khola
From India, Delhi
It is always better to post your query on similar or separate thread. This thread relates to leave management. Even then you should first see which of the State Factory Rules are applicable to you & then go through those Rules for various forms for maintaining registers & records.
Regards,
R.N.Khola
From India, Delhi
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