Dear jadhavrahul,
You need not pay contributions on leave encashment under both the acts.
For ESI-
(22) “wages” means all remuneration paid or payable, in cash to an employee, if the terms of the contract of employment, express or implied, were fulfilled and includes 35[any payment to an employee in respect of any period of authorised leave, lock out, strike which is not illegal or lay-off and] other additional remuneration, if any, [paid at intervals not exceeding two months], but does not include—
(a) any contribution paid by the employer to any pension fund or provident fund, or under this Act;
(b) any travelling allowance or the value of any travelling con¬cession;
(c) any sum paid to the person employed to defray special ex¬penses entailed on him by the nature of his employment; or
(d) any gratuity payable on discharge.
For EPF,
Refer the attached files
S.Sethupathy,
Excellent HR Services,
Erode.