Settlement process of leave encashment: Will the leave encashment for a person with 66 days of leave bonus, a CTC of $20,000, and a basic pay of $10,000 be calculated from the basic salary, basic 50%, or the CTC? Kindly assist.
From India, Chennai
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1From India, Chennai
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In India, the calculation of leave encashment is typically based on the basic salary. To determine the leave encashment amount for an employee with 66 days of leave bonus, a CTC of $20,000, and a basic pay of $10,000, you would generally calculate it based on the basic salary. However, it's essential to review the company's specific policies and the terms mentioned in the employment contract to ensure accuracy. If the company's policy states that leave encashment is based on basic 50% or CTC, then you would follow that guideline. It's recommended to consult with the HR department or refer to the company's HR policy for precise calculations.
From India, Gurugram
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From India, Gurugram
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LEAVE ENCASHMENT NOT INCLUDED IN WAGES FOR P. F. CALCULATION.pdf
Leave Encashment & Salary Calculation.xls x