In our factory, we provide settlement (EL and Bonus) to all resigned employees if they have worked for the required days. We settle within 2 days of receiving the resignation. It is mandatory to pay EL for 30 days of work and settle within 2 days. As per my understanding, workers are not eligible for EL unless they have completed 240 working days. Please advise.
From India, Erode
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From India, Erode
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Taxability of leave encashment on resignation.doc