Dear Members, I am from real estate company and would like to know about the Leave Encashement rule in India. Is it applicable to all industry and how to calculate the same. Thank you.
From India, Pune
From India, Pune
Hi,
Leave encashment is paid annually for the number of earned leaves (total number of earned leaves to be given is decided by the management) left in the employees account.
It is also under taxable income.
Normally leave encashment is being done by two types
(a) Mostly - Basic+DA/26*no of days leave to be encashed
(b) Very less - Gross salary/30*nof of days leave to be encahed ( ALMOST PER DAY SALARY/ 30 * UNUSED LEAVES)
70Leave encashment is paid annually for the number of earned leaves (total number of earned leaves to be given is decided by the management) left in the employees account.
It is also under taxable income.
Normally leave encashment is being done by two types
(a) Mostly - Basic+DA/26*no of days leave to be encashed
(b) Very less - Gross salary/30*nof of days leave to be encahed ( ALMOST PER DAY SALARY/ 30 * UNUSED LEAVES)
Dear Trupti,
There are 3 types of leaves (1. EL/PL 2. SL 3. CL)
According to indian law employee earns 1 EL on each 20 days working in the plant. But most of the companies gave EL more than the minimum requirement as law always talk about the minimum requirement. Employee has the right to take reimbursement of all unutilised EL as explained by Mr. Manoj Devda.
Regards,
Nishant
From India, Mumbai
There are 3 types of leaves (1. EL/PL 2. SL 3. CL)
According to indian law employee earns 1 EL on each 20 days working in the plant. But most of the companies gave EL more than the minimum requirement as law always talk about the minimum requirement. Employee has the right to take reimbursement of all unutilised EL as explained by Mr. Manoj Devda.
Regards,
Nishant
From India, Mumbai
Hi,
Leave encashment will be applied on those cases in which employer not willing to give leave due to work load, If employee not takes any leave inspite of leave available in proper number, It should be lapsed. Leave encashment is not legal rights of employee but taken of leave is their rights.Make company policy, increasing of leaves more than 60 will be lapsed so that employees avail their leave time to time.
Reagards
Madhusudan Mishra
From India, Indore
Leave encashment will be applied on those cases in which employer not willing to give leave due to work load, If employee not takes any leave inspite of leave available in proper number, It should be lapsed. Leave encashment is not legal rights of employee but taken of leave is their rights.Make company policy, increasing of leaves more than 60 will be lapsed so that employees avail their leave time to time.
Reagards
Madhusudan Mishra
From India, Indore
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