Dear All,
I am HR professional working in Gujarat based Manufacturing Company falling under SME. We have system of Leave Encashment total 28 days Gross salary to be paid annually. Prorata deduction of pay is done for leaves enjoyed & NET SALARY/28 DAYS leave wages is paid in full at the end of the calendar year.
Leave Bifurcation :
21 - Privilege Leaves
7 - Casual Leaves
Now the management has decided to start a leave policy instead of giving Leave Encashment. We are bit confused with the amount shown as Leave Encashment in Salary Break up sheet - where to adjust that amount ?
There are two circumstances
1) If we adjust that amount in Basic and other salary heads to match with CTC per annum - Company will be in loss.
2) If we don't adjust employees will be Demotivated as the CTC will go down.
Kindly guide me how to handle this situation.
Regards,
Kinjal
From India, Ahmadabad
I am HR professional working in Gujarat based Manufacturing Company falling under SME. We have system of Leave Encashment total 28 days Gross salary to be paid annually. Prorata deduction of pay is done for leaves enjoyed & NET SALARY/28 DAYS leave wages is paid in full at the end of the calendar year.
Leave Bifurcation :
21 - Privilege Leaves
7 - Casual Leaves
Now the management has decided to start a leave policy instead of giving Leave Encashment. We are bit confused with the amount shown as Leave Encashment in Salary Break up sheet - where to adjust that amount ?
There are two circumstances
1) If we adjust that amount in Basic and other salary heads to match with CTC per annum - Company will be in loss.
2) If we don't adjust employees will be Demotivated as the CTC will go down.
Kindly guide me how to handle this situation.
Regards,
Kinjal
From India, Ahmadabad
Dear Frnd,
pls share ur mail id. i am also froma manufacturing industry from Hyderabad.
Shrinath Rotopack Pvt. Ltd., Hyderabad, India | Polyester Laminates, Flexible, Packaging, Print Poly, Printed Paper, Roto Gravure, Rotomec, Nord Meccanica, Export Food Packaging, Retort, Pouches, Bags
www.belndcolours.com
From India
pls share ur mail id. i am also froma manufacturing industry from Hyderabad.
Shrinath Rotopack Pvt. Ltd., Hyderabad, India | Polyester Laminates, Flexible, Packaging, Print Poly, Printed Paper, Roto Gravure, Rotomec, Nord Meccanica, Export Food Packaging, Retort, Pouches, Bags
www.belndcolours.com
From India
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Karnataka Leave.xlsx
LEAVE APPLICATION.doc