Dear All,
I am from ITES Industry. Please brief me about leave encashment.
1. Which all leave (CL / SL / etc) are eligible for encashment?
2. Encashment is done once in a year or at the time of exit?
3. Encashment is done on gross salary or specific components?
Please help me with the answers.
Thanks
Nivya
From India, Madras
I am from ITES Industry. Please brief me about leave encashment.
1. Which all leave (CL / SL / etc) are eligible for encashment?
2. Encashment is done once in a year or at the time of exit?
3. Encashment is done on gross salary or specific components?
Please help me with the answers.
Thanks
Nivya
From India, Madras
Dear Nivya,
1. Encashment is done on PL's according to law
2. At the time of exit, but some companies follow a practice of encashing the same once a year to decrease their burden.
3. Encashment depends on Company policy, but normally is done @basic
Warm Regards
Sumiksha
21. Encashment is done on PL's according to law
2. At the time of exit, but some companies follow a practice of encashing the same once a year to decrease their burden.
3. Encashment depends on Company policy, but normally is done @basic
Warm Regards
Sumiksha
Hi,
Can anyone please help me to know about the rule for Leave encahment in detail.........
What is the period for it and how much or what percent is encashed?
As it is put up by one of the respondents that it is based on Basic Salary.
From India, Delhi
Can anyone please help me to know about the rule for Leave encahment in detail.........
What is the period for it and how much or what percent is encashed?
As it is put up by one of the respondents that it is based on Basic Salary.
From India, Delhi
a) Leave Encashment is a benefit given in addition to other retirement benefits to their employees by many companies , wherein a lumpsum amount payable to the employees or their dependants on retirement, death, disablement, voluntary retirement, or even during service period etc.
b) Leave Encashment is done only for PL's
c) The componenets for encashment can either be Basic + DA or all componenets of the Fixed Salary except Statutory..
Many companies also shift their Leave Encashment liabilities on LIC , by enetering into LIC's Group Encashment Scheme.
Hope this info suffice, for anything else you can contact
From India, Mumbai
b) Leave Encashment is done only for PL's
c) The componenets for encashment can either be Basic + DA or all componenets of the Fixed Salary except Statutory..
Many companies also shift their Leave Encashment liabilities on LIC , by enetering into LIC's Group Encashment Scheme.
Hope this info suffice, for anything else you can contact
From India, Mumbai
Dear ,
pls. go through following data:
1. Which all leave (CL / SL / etc) are eligible for encashment?
Ans: only Earned leave and Sick/Medical leave.
2. Encashment is done once in a year or at the time of exit?
Ans: it is provided once in a year as well as Superannuaton/Resignation.
3. Encashment is done on gross salary or specific components?
Ans: Basic, DA, VDA, and Special Allowance are considerable for the calculation of encashment of leaves.
From India, Shimla
pls. go through following data:
1. Which all leave (CL / SL / etc) are eligible for encashment?
Ans: only Earned leave and Sick/Medical leave.
2. Encashment is done once in a year or at the time of exit?
Ans: it is provided once in a year as well as Superannuaton/Resignation.
3. Encashment is done on gross salary or specific components?
Ans: Basic, DA, VDA, and Special Allowance are considerable for the calculation of encashment of leaves.
From India, Shimla
Dear, Leave encashment is eligible only for EL and it is a benifit given at the time of retirement or resignation. Encashment is done base on basic.
From India, Bangalore
From India, Bangalore
i joined a hospital on 10th dec 2010 and leave on 16th august 2011 and got about 29 leaves as EL during my job tenure.
but my organization refuse to give me the encashment for the same. and state that:
4. Leave Encashment
a. EL can be accumulated upto 90 days which can be encashed at the time of retirement.
b. Each employee can accumulate maximum 10 EL every year up to maximum of 90 days.
c. Those employees who have accumulated EL more than 90 days will get the maximum benefit of 90 days only.
d. In case an employee leaves before retirement, leave encashment for EL can be given if service period in hospital is more than 5 years and accumulated EL are more than 30 days.
they don't give any appointment letter or any terms and conditions document.
can i get my EL encashment done under any law??? pls suggest?
thanks
rakesh
From India, Chandigarh
but my organization refuse to give me the encashment for the same. and state that:
4. Leave Encashment
a. EL can be accumulated upto 90 days which can be encashed at the time of retirement.
b. Each employee can accumulate maximum 10 EL every year up to maximum of 90 days.
c. Those employees who have accumulated EL more than 90 days will get the maximum benefit of 90 days only.
d. In case an employee leaves before retirement, leave encashment for EL can be given if service period in hospital is more than 5 years and accumulated EL are more than 30 days.
they don't give any appointment letter or any terms and conditions document.
can i get my EL encashment done under any law??? pls suggest?
thanks
rakesh
From India, Chandigarh
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