dear, will company add the bonus amount in ctc of the employee?
From India, Bangalore
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From India, Bangalore
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12 leaves are Privileged leaves and can be encashed at the year end. It is cumulative and it can go on accumulating upto 30 days.
From India, Mumbai
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25From India, Mumbai
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As per the Factory Act, the maximum leave that can be accumulated is 30 days and above, all of which get encashed. 1 EL is given for every 20 days of working, so normally in a year, it amounts to around 15 days. If an employee needs to take leave, they can do so, and if they don't need it, they can keep them. However, when the accumulated leaves exceed 30 days, the organization encashes the remaining leaves.
The specific policy regarding accumulated leave also depends upon the company policy. Some organizations allow accumulation up to 60 or 90 days. If there is a leave policy in your organization, you can also check it for further details.
From India, Gurgaon
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The specific policy regarding accumulated leave also depends upon the company policy. Some organizations allow accumulation up to 60 or 90 days. If there is a leave policy in your organization, you can also check it for further details.
From India, Gurgaon
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As Kalpna rightly said, 1 PL is given for every 20 working days, which may come out to approximately 18.25 (365/20). However, to avoid the complexity of determining how many days were working and how many were non-working, companies often directly provide 21 days or 30 days, depending on the company policy. This can also be given as 1.75 or 1.5 days per month, which accumulates monthly in employees' PL accounts.
The company is obligated to provide the minimum leave as per the order, but there is no limit on the number of leaves that can be carried forward. Therefore, it is at the sole discretion of the company's management to decide how many leaves should be carried forward and how many should be encashed. Since PLs are a liability on the company's account, some companies prefer to encourage their employees to encash their leaves at the end of the calendar year.
In my current company, the policy dictates that out of every 30 PL days credited to an employee's account, 15 must be availed, and the remaining 15 will be carried forward. The maximum accumulation of PL days allowed is 300. This policy has two positive effects:
1. Employees will strive not to avail all 15 leaves, encouraging them to remain present in the company.
2. After 20 years in the same company, an employee's PL accumulation will reach 300. At the time of retirement, this PL will be a significant financial asset to the employee since the calculation of the entire 300 PL days will be based on their current CTC, which will be much higher than what they were receiving 20 years ago.
From Germany, Wolfsburg
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The company is obligated to provide the minimum leave as per the order, but there is no limit on the number of leaves that can be carried forward. Therefore, it is at the sole discretion of the company's management to decide how many leaves should be carried forward and how many should be encashed. Since PLs are a liability on the company's account, some companies prefer to encourage their employees to encash their leaves at the end of the calendar year.
In my current company, the policy dictates that out of every 30 PL days credited to an employee's account, 15 must be availed, and the remaining 15 will be carried forward. The maximum accumulation of PL days allowed is 300. This policy has two positive effects:
1. Employees will strive not to avail all 15 leaves, encouraging them to remain present in the company.
2. After 20 years in the same company, an employee's PL accumulation will reach 300. At the time of retirement, this PL will be a significant financial asset to the employee since the calculation of the entire 300 PL days will be based on their current CTC, which will be much higher than what they were receiving 20 years ago.
From Germany, Wolfsburg
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