Dear Team, Earlier, it was in the practice of accumulation of PL & paid in full & final settlement after the resignation of the employee. But now the company has decided that the above 45 PL, will be lapsed and will not benefit the employees. Can we demand Encashment of excess PL above 45. Pls, suggest any legal provisions. As the old staff who has balance PL more than 100 will be at a loss.
From India, Pune
From India, Pune
Dear
As per Factory Act any member can accumulate maximum 30 PL . But it depends on company policy which differ company to company. Some company carry forward only a limited number of leaves and rest balance leaves if any get lapsed. The mode of encashment differs company to company. Same company pay it on basic pay same on basic plus allowance. Some encash at the end of every year and some at the time of leaving the company.
I think your company changing rule under the law.
regards
Sunil
As per Factory Act any member can accumulate maximum 30 PL . But it depends on company policy which differ company to company. Some company carry forward only a limited number of leaves and rest balance leaves if any get lapsed. The mode of encashment differs company to company. Same company pay it on basic pay same on basic plus allowance. Some encash at the end of every year and some at the time of leaving the company.
I think your company changing rule under the law.
regards
Sunil
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