Dear Master,
Could you please provide me with a good leave policy for the encashment of Earned Leaves? Over the past five years, I have encountered numerous issues. Each year, I have submitted a proposal to management, which has been approved after prolonged discussions, typically ranging from ten to fifteen times. While the leave policy I introduced covers aspects such as applying for and sanctioning leaves, I consistently face challenges when it comes to encashing Earned Leaves. I would greatly appreciate your insights on this matter.
Regards,
PBS KUMAR
From India, Kakinada
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592Could you please provide me with a good leave policy for the encashment of Earned Leaves? Over the past five years, I have encountered numerous issues. Each year, I have submitted a proposal to management, which has been approved after prolonged discussions, typically ranging from ten to fifteen times. While the leave policy I introduced covers aspects such as applying for and sanctioning leaves, I consistently face challenges when it comes to encashing Earned Leaves. I would greatly appreciate your insights on this matter.
Regards,
PBS KUMAR
From India, Kakinada
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Hi PBS Kumar,
You have not mentioned whether you are in a government job or in the private sector.
I can only tell you about my organization's encashment rules. My organization is a public sector undertaking.
Rules for encashment of leaves:
1) During service, encashment of earned leave will be permissible a maximum of twice in a financial year with a minimum of 10 days at a time without insisting on proceeding on leave, subject to the concerned employees keeping a residual leave of a minimum of 30 days at credit at the time of encashment of earned leave.
2) A person can earn up to 300 (three hundred) days of earned leave; over that, earned leave earned will lapse.
3) Calculation of earned leave encashment is:
Cash = (Basic + Dearness Allowance) x No. of EL
-------------------------
30
4) At the time of superannuation, he/she will be entitled to encashment of the whole earned leave he/she has in his/her account.
I hope this information is helpful for you.
With regards,
RK Sinha
From India, Ludhiana
Acknowledge(0)Amend(0)
You have not mentioned whether you are in a government job or in the private sector.
I can only tell you about my organization's encashment rules. My organization is a public sector undertaking.
Rules for encashment of leaves:
1) During service, encashment of earned leave will be permissible a maximum of twice in a financial year with a minimum of 10 days at a time without insisting on proceeding on leave, subject to the concerned employees keeping a residual leave of a minimum of 30 days at credit at the time of encashment of earned leave.
2) A person can earn up to 300 (three hundred) days of earned leave; over that, earned leave earned will lapse.
3) Calculation of earned leave encashment is:
Cash = (Basic + Dearness Allowance) x No. of EL
-------------------------
30
4) At the time of superannuation, he/she will be entitled to encashment of the whole earned leave he/she has in his/her account.
I hope this information is helpful for you.
With regards,
RK Sinha
From India, Ludhiana
Acknowledge(0)Amend(0)
Hi PBS Kumar,
I hope your issue has been resolved with the information I provided. If your company decides to finalize the encashment of the leave policy at any time, please forward me a copy of that to my email address randhirsinha@yahoo.com.
With regards,
RK Sinha
From India, Ludhiana
Acknowledge(0)Amend(0)
I hope your issue has been resolved with the information I provided. If your company decides to finalize the encashment of the leave policy at any time, please forward me a copy of that to my email address randhirsinha@yahoo.com.
With regards,
RK Sinha
From India, Ludhiana
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PF Circular for No PF in Encashment of Leaves.pdf
Leave Policy.doc