Dear All,
I am working as Manager in a Pharma Company which is Kolkatta based.
I want to knowa
a) If I resign am I entitled to Leave Encashment?
b) If company terminates me am I entitled to Leave Encashment then also?
Kindly guide.
Regards,
Anonymous 2015
From India, Delhi
I am working as Manager in a Pharma Company which is Kolkatta based.
I want to knowa
a) If I resign am I entitled to Leave Encashment?
b) If company terminates me am I entitled to Leave Encashment then also?
Kindly guide.
Regards,
Anonymous 2015
From India, Delhi
Dear Anonymous, What is your company policy on the same? Study the company policy and that will answer your query. Regards, Ashutosh Thakre
From India, Mumbai
273From India, Mumbai
First of all you have to make sure that What you company policy say whether you are entitled to Leave encashment when you resign or retire? Is there any precedence? As per Government rule when you resign, up to the date of resignation whatever the leave at your credit you may claim. but Gratuity will not be paid when you resign. Termination is a complication to the company, there must be legal formalities to be followed and your termination is because of you fault and proved then you may not get anything.
From India, Chennai
From India, Chennai
If your Co is a factory ,as per the factory Act you are entitled for encashment of annual leaves on resignation or termination.If it is a commercial establishment it is governed by Shop and commercial Est Act of West Bengal.Otherwise it goes by the policy of the Company
If your Co has more than ten persons working and you have completed five years service you are eligible for gratuity.What was stated above by .Latha is not correct.
From India, Thiruvananthapuram
If your Co has more than ten persons working and you have completed five years service you are eligible for gratuity.What was stated above by .Latha is not correct.
From India, Thiruvananthapuram
Normally, the corporates have three types of Leave viz. Casual Leave, Sick Leave and Earned Leave (Annual Leave). Assume that you have following leave in your company.
(a) CL is 12 days pa (unavailed leave at the end of the year will lapse - normally accumulation or carry forward is not permissible)
(b) Sick Leave is 12 days pa (accumulation / carry forward is permissible in some companies - say - accumulation limit is 30 days)
(c) Earned Leave is 20 days pa. (accumulation / carry forward is permissible in some companies - say - accumulation limit is 60 days)
Your notice period is say - 60 days (some companies may operate on 30 days / 90 days).
If you resign from the Company, you have to give 60 days notice or salary in lieu of notice or it can be adjusted against your accumulated leave - both SL & EL. Balance leave should be encashed by the Company. In case you do not have enough leave, you have to pay for balance days.
If you are terminated from the Company, the Company has to give you 60 days notice or salary in lieu of notice. In addition, they have to encash all the Leave (including unavailed CL) available at your credit and pay the same to you.
Gratuity is a different one and as per the Act, if you have completed five years, they have to pay the amount and they cannot adjust any amount against Gratuity.
Hope I have clarified your query
Regards
A B Srinivasan
From India, Madras
(a) CL is 12 days pa (unavailed leave at the end of the year will lapse - normally accumulation or carry forward is not permissible)
(b) Sick Leave is 12 days pa (accumulation / carry forward is permissible in some companies - say - accumulation limit is 30 days)
(c) Earned Leave is 20 days pa. (accumulation / carry forward is permissible in some companies - say - accumulation limit is 60 days)
Your notice period is say - 60 days (some companies may operate on 30 days / 90 days).
If you resign from the Company, you have to give 60 days notice or salary in lieu of notice or it can be adjusted against your accumulated leave - both SL & EL. Balance leave should be encashed by the Company. In case you do not have enough leave, you have to pay for balance days.
If you are terminated from the Company, the Company has to give you 60 days notice or salary in lieu of notice. In addition, they have to encash all the Leave (including unavailed CL) available at your credit and pay the same to you.
Gratuity is a different one and as per the Act, if you have completed five years, they have to pay the amount and they cannot adjust any amount against Gratuity.
Hope I have clarified your query
Regards
A B Srinivasan
From India, Madras
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Taxability of leave encashment on resignation.doc