Dear All,
we follow a leave calendar from January to December. if at the end of year, employees want to encash their balance earned leaves, so when it should be paid, at the end of financial year or at the end of calendar year.
please answer..
Thanks!
Nishu
From India, New Delhi
5we follow a leave calendar from January to December. if at the end of year, employees want to encash their balance earned leaves, so when it should be paid, at the end of financial year or at the end of calendar year.
please answer..
Thanks!
Nishu
From India, New Delhi
Dear Nishu, After ending December you can give leave encashment benefits for your employees. Regards Pulkit
From India, New Delhi
From India, New Delhi
hi neeshu
after completion of calender Year u can pay the amount of leave in cash
or if any employee will resigned from service in between the calender year then u hv to pay the leave amount with full and final
ahsish Kumar
delhi
From India, New Delhi
after completion of calender Year u can pay the amount of leave in cash
or if any employee will resigned from service in between the calender year then u hv to pay the leave amount with full and final
ahsish Kumar
delhi
From India, New Delhi
Hi Ashish,
Thanks, Actually we are paying all earned leave balance at the time of full n final. but we have a policy to encash a portion of leave balance (earned) provided sufficient leave in balance post encashment. But I was not aware when it can be encashed. but as I have logically analysed the situation, ideally this encashment should be done at the end of leave calendar only, then only appropriate leaves will get forward for next calendar year.
anyways..thnk u all for ur valuable suggestions..
From India, New Delhi
Thanks, Actually we are paying all earned leave balance at the time of full n final. but we have a policy to encash a portion of leave balance (earned) provided sufficient leave in balance post encashment. But I was not aware when it can be encashed. but as I have logically analysed the situation, ideally this encashment should be done at the end of leave calendar only, then only appropriate leaves will get forward for next calendar year.
anyways..thnk u all for ur valuable suggestions..
From India, New Delhi
Dear Nishu,
I have a suggestion. probably you can send a notification to the employees who are eligible for the leave encashment to opt if they would like to encash their leaves and they need to do it before the end of december so that your system gets updated accordingly . The number of days which gets encashed can be paid in the month of Feb or March as this amount will be a taxable component.
Regards,
Anisha
From India
I have a suggestion. probably you can send a notification to the employees who are eligible for the leave encashment to opt if they would like to encash their leaves and they need to do it before the end of december so that your system gets updated accordingly . The number of days which gets encashed can be paid in the month of Feb or March as this amount will be a taxable component.
Regards,
Anisha
From India
The Leave Encashment for the year 2010 can be paid after the end of calender year and before the end of financial year 2010-11. This means you can pay this by 31 st march 2011.This attracts the income tax as well as this expenses should be booked in financial accounts with the current financial year.
From India, Mumbai
From India, Mumbai
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf
EPFO Circular Leave Encashment.jpg