Dear All,
Please Note, Leave Encashment is done on the basis of Gross salary not the Basic +Da
Kindly go through the New notification of Factroies act 1947 and Companies act 1956, a
Yes genererally we are practising Calculating on the Basis of Basic, some companies Basic+DA actually this wrong, if we read the leave encashment procedure as per the act it is stated, on the basis of Gross components, which is encashed when employee is leaving the organization, due to resignation, etc,
Request all to refer once Base act so that, you will undersatnd more clarity on this.
Thanking You
Yogeesh S. T
From India, Bangalore
Please Note, Leave Encashment is done on the basis of Gross salary not the Basic +Da
Kindly go through the New notification of Factroies act 1947 and Companies act 1956, a
Yes genererally we are practising Calculating on the Basis of Basic, some companies Basic+DA actually this wrong, if we read the leave encashment procedure as per the act it is stated, on the basis of Gross components, which is encashed when employee is leaving the organization, due to resignation, etc,
Request all to refer once Base act so that, you will undersatnd more clarity on this.
Thanking You
Yogeesh S. T
From India, Bangalore
3Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
PF Contribution on Leave Encashment - Clarification by EPFO.pdf
SC -PF judgment on No PF on Leave encashment.doc
EPFO Circular Leave Encashment.jpg