I am retired in Sep 09. My August 2009 salary was 24,140, but my salary was reduced effective 16th Sep to 21,660 due to a disciplinary decision. I have earned a net salary of 22,990 only for Sep 09. Whether leave encashment will be paid on the last month's net salary of Rs. 22,990 or @ Rs. 21,660. Please guide.
Ramesh
From India, Pune
Acknowledge(0)
Amend(0)
Ramesh
From India, Pune
Acknowledge(0)Amend(0)
Dear Mr. Rameshom,
As per the rules, the formula for leave encashment is as follows: Last Basic/30 x Number of days leave encashed. Hence, you will receive your leave encashment based on your last drawn basic salary.
From India, Rajkot
Acknowledge(0)Amend(0)
As per the rules, the formula for leave encashment is as follows: Last Basic/30 x Number of days leave encashed. Hence, you will receive your leave encashment based on your last drawn basic salary.
From India, Rajkot
Acknowledge(0)Amend(0)
Hello Mr. Karadkar,
I would like to suggest a major amendment to your Leave Encashment formula. Firstly, the Leave Encashment should be based on the gross salary, not the basic salary. Secondly, the calculation should be based on 26 days, not 30 days.
I hope you can implement this revised formula effectively.
Thank you and regards,
Chander Kr.
HR-Exec.
E-Mail: chander_kmr02@rediffmail.com
From India, New Delhi
Acknowledge(0)Amend(0)
3I would like to suggest a major amendment to your Leave Encashment formula. Firstly, the Leave Encashment should be based on the gross salary, not the basic salary. Secondly, the calculation should be based on 26 days, not 30 days.
I hope you can implement this revised formula effectively.
Thank you and regards,
Chander Kr.
HR-Exec.
E-Mail: chander_kmr02@rediffmail.com
From India, New Delhi
Acknowledge(0)Amend(0)
Hi, Leave encashment is depends on Last Basic ( Actual not Earned ) A K Ramesh Mob No.098454-23311
From India, Bangalore
Acknowledge(0)Amend(0)
From India, Bangalore
Acknowledge(0)Amend(0)
Dear A K Ramesh, Plz let us know which of the labour law allows us to make leave encashment on last basic. Regards, Bhawna Bhardwaj
From India, New Delhi
Acknowledge(0)Amend(0)
From India, New Delhi
Acknowledge(0)Amend(0)
Leave encashment matrix depends on the last basic salary/Number of days of the month multiplied by the number of annual leave entitled. The number of annual leave depends on the HR policy of your company, whether it is earned leave or entitled leave. Please check your company's policy.
Regards
From Oman, Muscat
Acknowledge(0)Amend(0)
Regards
From Oman, Muscat
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Leave Encashment & Salary Calculation.xls x
LEAVE ENCASHMENT NOT INCLUDED IN WAGES FOR P. F. CALCULATION.pdf