Leave Encashment Rules [Thread 263072]

i am retired in sep 09. my aug 2009 salary was 24140 but my salary was reduced wef 16 sep to 21660 due to desciplinary decison
i have earned for sep09 net salary of 22990 only. whether leave encashment will be paid on last month net salary of rs 22990 or @rs 21660
please guide .
ramesh

Dear Mr. Rameshom,
As per the rules leave encashment rules formula of leave encashment is as under;
Last Basic/30xNo of days leave encashed.
Hence you will get your leave encashment on your last basic drawn.

Hello Mr. Karadkar,
May I major amendment in ur Leave Encashment formula first thing Leave Encashed is only gross salary not basic salary 2thing is divide only 26 days not 30 days.
I hope ur able to this formula & same in practice.
thanks & regards,
Chander Kr.
HR-Exec.
E-Mail:chander_kmr02@rediffmail.com

Hi, Leave encashment is depends on Last Basic ( Actual not Earned )
A K Ramesh
Mob No.098454-23311

Dear A K Ramesh,
Plz let us know which of the labour law allows us to make leave encashment on last basic.
Regards,
Bhawna Bhardwaj

leave encashment matrix depends on the last basic salary/No of Days of the month * No of annual leave entitled
Now No of annual leave depends on the HR Policy of your company is it earned leave or entitled leave.
check your policy
regards

Can u please tell me about the formula for leave encashment is it on 30 days or 26 days ? Pls. give your comments.
Manish