If the organization is following the annual practice of encashing 10 EL and lapsing 5 EL, is it correct? Or should encashment only be done when the maximum accumulation limit of 45 EL is reached (as per the UP Shop & Establishment Act)?
Earned leaves are generally as per the company policy. Some companies consider them lapsed after reaching the maximum eligibility as described in the policy, while others may encash them as taxable over and above the maximum eligibility.
If you are knowledgeable about any fact, resource or experience related to this topic - please add your views. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone. Join To Contribute