Hi,
I work as an HR in a Engineering Company in Kolkata.
We have a system of doing leave encashment of any Privilege Leave which goes above 60days at the end of Financial year for oue Employees. The amount becomes taxable in hands of our Employees...
I would like to know If the employer company wants to pay leave encashment to its employees what would be the basis of calculation. Say number of leaves available for encashment to employee= 25 days.
So, is the calculation like: (Basic salary per month)*12*25 days/365 = Amount of leave encashment.
Is this in order? “
I work as an HR in a Engineering Company in Kolkata.
We have a system of doing leave encashment of any Privilege Leave which goes above 60days at the end of Financial year for oue Employees. The amount becomes taxable in hands of our Employees...
I would like to know If the employer company wants to pay leave encashment to its employees what would be the basis of calculation. Say number of leaves available for encashment to employee= 25 days.
So, is the calculation like: (Basic salary per month)*12*25 days/365 = Amount of leave encashment.
Is this in order? “