I am working with a private company and now I am planning to get relieved from the organization. I have a handful of queries at this time, It would be great if anyone could answer those.
1) Our company policy document reads "...All leaves accumulated upto resignation will stand forfeited and employees will be paid only on actual attendance basis..."
Now, I have 18 days of leave (4 CL, 8 PL & 6 O/B). Just curious if there are any court rulings/applicable laws making it legally binding on part of company that the remaining leaves of employee at the time of relieving has to be encashed?
2) I am planning to buy out 1 month of my 2 months notice period.
My offer letter says "..... The management however, reserves the right to (i) Waive the applicable notice and relieve you immediately upon paying you the "Base salary in lieu of the said notice period or (ii) Insist that you serve the company during the notice period in full or in part thereof, instead of
accepting from you, salary in lieu of the said notice period.... "
Now what does this 'base salary' include? Only basic? or Basic+DA or anything else?
3) I had been with this employer for 17 months they had been showing an 'XXX' amount as part of CTC as an annual component ( It appears in my offer letter, though gratuity is not included in monthly salary slip). So, do I have any legal ground to get this amount back (whats shown as a component in my CTC and technically been deducted from monthly salary)? Are there any laws/court rulings?
Would be great if you can quote laws or rulings from court on the above mentioned points, as the so called 'industry fair practices' is not something my employer will pay heed to.