Dear Friends,
Mr George has rightly said that EL accumulation or encashment is totally depended upon the policy of the company and the rules are generally different for different level of people. Such as the workmen/associates will have EL as Factories Act 1946/ Certified Standing Orders where as Officers/executive have generally more number of EL. In some companies the criteria of grant of EL to Officer is based on the total length of service and/or experience in that organisation. So there exist the subjectivity of practice on allotment of EL to employees.
Similarly the encashment also have different connotations. But most adopted practice is to encash the accomulated El with the last drawn salary which include Basic and DA components only.
nirmal
Mr George has rightly said that EL accumulation or encashment is totally depended upon the policy of the company and the rules are generally different for different level of people. Such as the workmen/associates will have EL as Factories Act 1946/ Certified Standing Orders where as Officers/executive have generally more number of EL. In some companies the criteria of grant of EL to Officer is based on the total length of service and/or experience in that organisation. So there exist the subjectivity of practice on allotment of EL to employees.
Similarly the encashment also have different connotations. But most adopted practice is to encash the accomulated El with the last drawn salary which include Basic and DA components only.
nirmal