Hi to all Can any body let me what are the provisions for leave encashment in Mumbai. Further any website from where I can Download Bombay Shops & Establishment Act, 1948. Regards Prasad
From India, Mumbai
1From India, Mumbai
Dear Prasad,
The practise to pay leave encashment almost same in all indsturies. The leave like Casual leave or previlege leave can be encashed. This encashment is taxable under the act. The payment made based on 26 days working for workmen and 30 days working for staff. It is computed on the basic salary + D.A. the formula :-
(Basic + DA) /30* no. of leave days.
Also, the employer should deduct P.F. on encashment.
regs
Bhushan
From India, Mumbai
The practise to pay leave encashment almost same in all indsturies. The leave like Casual leave or previlege leave can be encashed. This encashment is taxable under the act. The payment made based on 26 days working for workmen and 30 days working for staff. It is computed on the basic salary + D.A. the formula :-
(Basic + DA) /30* no. of leave days.
Also, the employer should deduct P.F. on encashment.
regs
Bhushan
From India, Mumbai
Kindly click on the following link, it will give you some required information,
https://www.citehr.com/search_new.ph...ave+encashment
From India, Coimbatore
https://www.citehr.com/search_new.ph...ave+encashment
From India, Coimbatore
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf
EPFO Circular Leave Encashment.jpg