Earned Leave Calculation Formula

Dear K. Saikishore,Please go through the chapter on salary in the taxation book. Leave encashment is the salary received by an individual for a leave period. It is considered chargeable income whether the individual is a government employee or not. Under section...

@saikishore608@gmail.com:> Dear Senior,> > What is the formula for calculation of EL's?> > Basic * 15 / 26 x No. of EL's> > If the above formula is correct, please provide any valid document from ACT stating the above formula is correct.> > Regards,> K. Saikisho...

Dear K. Saikishore,I believe Section 79 of the Factories Act 1948 will be helpful to you. This is the standard that all companies in India should follow. However, this act will not apply if the industry or company implements anything better than this.79\. ANNUAL...

Dear Seniors,What is the formula for the calculation of EL's?Basic: 26 x No. of EL'sIf the above formula is correct, please provide any valid document from the ACT stating that the above formula is correct.Regards,K. Saikishore

Hi,Regarding the calculation of ELs, is it 15 days per 1 EL or 20 days per 1 EL? Could you please clarify this for me?Thank you.

Hi Ramya,There is no specific formula for calculating ELs. This calculation depends on the Leave Policy of the concerned Organization. The Leave policy varies from organization to organization. Some organizations calculate (Gross Salary - Incentives) / 30 * No. ...

Hello, I have the same query to ask. If you have an answer for the same, please reply to me as well.