Dear All,
Please let me know if there is any law which says about leave encashment,whether earned leaves are to be encashed on Basic salary or Gross Salary.
Thanks for your help in advance.
Regards
Ishneet
From India, Delhi
Please let me know if there is any law which says about leave encashment,whether earned leaves are to be encashed on Basic salary or Gross Salary.
Thanks for your help in advance.
Regards
Ishneet
From India, Delhi
Hi Ishneet! In our Organization, Leave Encashment is done on the basis of gross salary. Only balance Earn Leaves / Paid Leaves can be encashed.
From India, New Delhi
15From India, New Delhi
Leave encashment policy for govt employees - Basic + DA
Read here
http://persmin.gov.in/DOPT/Acts_Rule..._I_Rule_03.pdf
For Pvt, it is as per the company policy. Mostly, it is basic+DA.
Pon
From India, Lucknow
Read here
http://persmin.gov.in/DOPT/Acts_Rule..._I_Rule_03.pdf
For Pvt, it is as per the company policy. Mostly, it is basic+DA.
Pon
From India, Lucknow
Thanks for your help seniors.
That means we can decide the same internally, no law says anything about leave encashment in private companies.
It is mostly paid on Basic Salary, but a question comes when an employee is taking a leave his whole day pay is not getting deducted but when he is not taking leave or is not allowed to take leave because of work pressure or any other reason then the person would only get half or 40% of the day.
Regards
Ishneet
From India, Delhi
That means we can decide the same internally, no law says anything about leave encashment in private companies.
It is mostly paid on Basic Salary, but a question comes when an employee is taking a leave his whole day pay is not getting deducted but when he is not taking leave or is not allowed to take leave because of work pressure or any other reason then the person would only get half or 40% of the day.
Regards
Ishneet
From India, Delhi
Ishneet, That is why we get leave encashment on the basis of gross salary. Our Company is a Pvt. Ltd. Company. Can’t comment on other Company’s Policy.
From India, New Delhi
From India, New Delhi
hi,
Paid leaves can ONLY be en cashed at the time of resignation.
If u have 40 leaves at the time of resignation and 30 days is the notice period then the same can be adjusted. you will get the basic pay for 10 days in this case.
A 30 day salary should be given in lieu of notice period.
The same is in most of the companies. Please refer to the terms and conditions of your respective org.
From India, Delhi
Paid leaves can ONLY be en cashed at the time of resignation.
If u have 40 leaves at the time of resignation and 30 days is the notice period then the same can be adjusted. you will get the basic pay for 10 days in this case.
A 30 day salary should be given in lieu of notice period.
The same is in most of the companies. Please refer to the terms and conditions of your respective org.
From India, Delhi
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