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HI , This is Nishu working in Ltd. company and we calculate leave encashment as per follows: - Last Basic salary Drawn * No. of PL Balance / 24 or 26 I have written 24 or 26 based on weekly off. Our Branch Offices are closed only on Sunday and Corporate office is closed on Second and Fourth Saturday so thats why no. of days worked varies. Kindly tell me is it correct.....
From India, Gurgaon
From India, Gurgaon
Hi all, After referring all your valuable suggestion on Leave Encashment (i.e. on Basic + DA). I have a query on calculating a LOP. I have seen most company calculate the LOP on one day gross salary. In that case, how to justify a Leave encashment paid only on Basic + DA without referring one day salary. I welcome debate/ justification on the above with illustrations or any case law. Rgds, Suresh Ramalingam
From India, Mumbai
From India, Mumbai
I need the contact numbers for Hr people for city of ahmedabad-gujarat which would enable me to contact them...for the recruitment related quarries .....
Hi all, Recently our management proposed to give Leave encashment facility to its staff and workers. Now I have to deduct PF if leave encashment is given. Please give me details of PF A/c no. i.e. how can I post the contribiution of employer in 1,10,2,21,22 . With regards, Avi
From India, Mumbai
From India, Mumbai
Hello Everyone, For leave encashment according to law there is only one formula i.e Gross Salary/26* No. of EL’s and yes u need to deduct PF from the outcome amount. Regards Vijeta
THE GRANTING OF LEAVE ENCASHMENT DEPENDS ON THE RULES FRAMED BY THE ORGANISATION IN THIS REGARD. NORMALLY BASIC PAY AND DA ARE TAKEN INTO CONSIDERATION AND OTHER ALLOWANCES LIKE HRA, CCA, CONVEYANCE ALLOWANCE AND OTHER ALLOWANCES ARE NOT CONSIDERED AS PER RULES. THE MONTHLY SUM CAN BE DIVIDED BY 30 TO ASCERTIN THE AVERAGE SALARY AND CAN BE MULTIPLIED BY THE NO OF DAYS OF LEAVE ENCASHMENT AND THE RESULTANT DISBURSEMENT CAN BE MADE TO THE EMPLOYEE. I MAY MENTION THAT IT IS THE MATHEMATICAL CONVENTION TO TREAT THE MONTH OF 30 DAYS. DEEPAK THUKRAL CHANDIGARH
From India, Chandigarh
From India, Chandigarh
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PF Contribution on Leave Encashment - Clarification by EPFO.pdf
EPFO Circular Leave Encashment.jpg