Leave Encashment Policy In India
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Search Result For "Leave Encashment Policy In India" - Page 1
Is it common to state in the annual leave policy that there is a carryover of days? If so, how many days is most common.Is it common to state that there is encashment of unused annual leave days? If so, how many days are typically allowed for carryover or accumu...
Question 1: Is there an option to not carry forward annual leave to the next year? If such a policy exists, kindly inform me.Question 2: If the carry-forward option for annual leave is available, please let me know the maximum number of leaves that can be carrie...
Dear All,Can anyone tell me whether we can consider leave encashment for calculating the basis for Professional tax?Thanks & Regards,Sandeep Naik
Thank you for the response, Mr. Kamal.Even though we provide encashment in the salary, is it valid? Is this scenario applicable to all states in India, or is there any provision in any state to include it for professional tax?Regards,Sandeep Naik
State professional tax is levied on salary and wages earned by the employees. Earned leave encashment doesn't come under salary and wages, so there is no question of deducting professional tax from leave encashment.
Dear Trupti,There are 3 types of leaves: 1\. EL/PL 2\. SL 3\. CL.According to Indian law, an employee earns 1 EL for every 20 days worked in the plant. However, most companies provide more EL than the minimum required by law, as the law always addresses the mini...
Hi,Leave encashment will be applied in cases where the employer is not willing to grant leave due to workload. If an employee does not take any leave despite leave being available in the proper number, it should be forfeited. Leave encashment is not a legal righ...
Hi,Leave encashment is paid annually for the number of earned leaves (total number of earned leaves to be given is decided by the management) left in the employee's account. It is also under taxable income.Normally, leave encashment is done by two types:(a) Most...
Dear All,Kindly provide answers to the following queries:- What amendments have occurred in EL/PL?- When will it be credited to employees' accounts?- Is there a policy for leave encashment as per the law?Please send your replies at the earliest.Thanks & Regards,...
Dear Members,I am from a real estate company and would like to know about the Leave Encashment rule in India. Is it applicable to all industries, and how do I calculate the same?Thank you.