Dear, Here is an attached file of Employee Benefits Acts. Hope it will help you. Thanks, Priyanka
From India, Bhubaneswar
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6From India, Bhubaneswar
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Thanx a lot for posting all these attachment at one place. Nw I am assure it will somehow help me in my placement interview. Thanx with regards PRIYA SINGH
From India, Bangalore
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From India, Bangalore
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Hi priyanka, thnx for sharing all ppt’s, which wud help me in my presentation too... keep posting :)
From India, Mumbai
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From India, Mumbai
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Hi, I really Appreciate your effort for providing such a presentations, Keep posting good stuff. With Regards Shariff
From India, Mumbai
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From India, Mumbai
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Hi priyanka, thnx for sharing all ppt’s, which wud help me in my presentation too... it’s so useful thanxs montykarr
From India, Delhi
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From India, Delhi
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Is there any law on LEAVE for employees in private limited company? Or the company ha s the right to set any "Leave Policy".
From United States
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From United States
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Dear HR Gurus,
Apologies for posting a new topic under an irrelevant discussion. (As I am not able to figure out how to post a new topic for discussion). I have a query on Leave Encashment policies followed by various organizations. In my company, the management does not prefer leave encashment. In short, balance leaves are lapsed (which is demotivating to employees). The management states that there are tax implications, or the company has to pay tax if they provide leave encashment benefits. Could you please advise if this is accurate? Or is it that the company simply does not want to provide this benefit to its employees?
If there are compliance issues, please suggest a way where management and employees can both be happy.
Thanks in advance!
Regards, Kavitha
From India, Surat
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Apologies for posting a new topic under an irrelevant discussion. (As I am not able to figure out how to post a new topic for discussion). I have a query on Leave Encashment policies followed by various organizations. In my company, the management does not prefer leave encashment. In short, balance leaves are lapsed (which is demotivating to employees). The management states that there are tax implications, or the company has to pay tax if they provide leave encashment benefits. Could you please advise if this is accurate? Or is it that the company simply does not want to provide this benefit to its employees?
If there are compliance issues, please suggest a way where management and employees can both be happy.
Thanks in advance!
Regards, Kavitha
From India, Surat
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Dear Kavitha,
In every organization, there is a leave encashment policy under which unavailed casual leaves and earned leaves are encashed in the employee's account. No tax penalty will be incurred by the company if it provides leave encashment to its employees.
Unavailed earned leaves will be encashed at a rate of (Basic+DA)/26, while unavailed casual leaves will be encashed at a rate of (Basic+DA)/30. The leave encashment rate can vary from company to company.
If you have any other queries, feel free to contact.
Regards,
Sandeep Sharma
Hero Motocorp Ltd.
Gurgaon
E-mail - sandeep.sharma@heromotocorp.com
From India, Delhi
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In every organization, there is a leave encashment policy under which unavailed casual leaves and earned leaves are encashed in the employee's account. No tax penalty will be incurred by the company if it provides leave encashment to its employees.
Unavailed earned leaves will be encashed at a rate of (Basic+DA)/26, while unavailed casual leaves will be encashed at a rate of (Basic+DA)/30. The leave encashment rate can vary from company to company.
If you have any other queries, feel free to contact.
Regards,
Sandeep Sharma
Hero Motocorp Ltd.
Gurgaon
E-mail - sandeep.sharma@heromotocorp.com
From India, Delhi
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Oh, thanks Sandeep. I have got my answer. By the way, our company is manufacturing-based. What would be the right combination of leave categories? Also, I assume leave can be accumulated for N number of years to be encashed either during exit or retirement, right?
From India, Surat
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From India, Surat
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Dear Kavitha,
In our organization, we follow the following leave combinations per year:
- Casual leave: 10 days
- Sick leave: 10 days
- Earned Leave: 18 days (1.5 per month)
- Accumulation limit for EL: 150 (If EL exceeds the limit of 150, it will be encashed to the employee's account)
- Accumulation limit for SL: 60 (If SL exceeds the limit of 60, it will be encashed to the employee's account)
- Unavailed CL leaves will be encashed at the end of every year.
- So, leaves cannot be accumulated for N number of years beyond the maximum limit.
- During Exit/Retirement, all unavailed leaves are encashed.
Clear?
Where is your organization, by the way, and what does it manufacture?
Regards,
Sandeep Sharma
Hero MotoCorp Limited
From India, Delhi
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In our organization, we follow the following leave combinations per year:
- Casual leave: 10 days
- Sick leave: 10 days
- Earned Leave: 18 days (1.5 per month)
- Accumulation limit for EL: 150 (If EL exceeds the limit of 150, it will be encashed to the employee's account)
- Accumulation limit for SL: 60 (If SL exceeds the limit of 60, it will be encashed to the employee's account)
- Unavailed CL leaves will be encashed at the end of every year.
- So, leaves cannot be accumulated for N number of years beyond the maximum limit.
- During Exit/Retirement, all unavailed leaves are encashed.
Clear?
Where is your organization, by the way, and what does it manufacture?
Regards,
Sandeep Sharma
Hero MotoCorp Limited
From India, Delhi
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Office Order regarding Maternity Leave for Contractual employee as per Amendment Act 2017.pdf
Employee Benefits.doc