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I have been assigned to prepare the F&F for a resigned employee, below our details given, I need help to calculate leave encashment applicable:
Name of employee: XXX
Date of Joining: 03/01/2017
Last Working Date: 28/02/2019
Basic Salary: 13,500
Gross Salary: 27,000
PF: 3600
Medical Reimbursement: 440
February'19 Month Days Worked: 24 (no leaves taken)
Leave Balance: PL: 8/CL:6/SL:6 (At start of financial year, we give PL-8,CL&SL-6, employee's leaves were used by December 2018 so no leaves were carried forward for year 2019)
Request you to please share step by step calculation with brief explanation.
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There is no explicit ruling in shops or factories the method of computation of leave encashment. If you have mentioned about encashment rule, whether encashed, how much, at what rate etc. in appointment order or HR policy, then it would be simple and strainghtforward to pay.
Depends on company practice, the payment computation can differ. Paying @Basic or paying@Gross are in practice.
Hello Consultme,
Thank you for your response. Can you please confirm the amount of leave encashment payable to the respective employee on Basic as this process is followed in our organization.
Thanks and Regards,
Akash Sharma
Can you help me to make KRA of receptionist and administrator
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