Hi!
As per the general leave rules, in the industry, the leave encasement should be ideally done at the end of the Leave Year (Jan / Mar depending on the Co. Policy).
However, the employee can be given the liberty to claim the balance EL of the previous year anytime during the current Leave year.
The rate at which the EL are encashed will be the current Gross Pay.
One should bare in mind that, the Leave Encashment amount is taxable.
Max Nos. of EL one can accumulate should not exceed more than 90 days.
As per the general leave rules, in the industry, the leave encasement should be ideally done at the end of the Leave Year (Jan / Mar depending on the Co. Policy).
However, the employee can be given the liberty to claim the balance EL of the previous year anytime during the current Leave year.
The rate at which the EL are encashed will be the current Gross Pay.
One should bare in mind that, the Leave Encashment amount is taxable.
Max Nos. of EL one can accumulate should not exceed more than 90 days.