RE; Priviledge leave
Querist :
Anonymous
(Querist) 23 November 2009
This query is : Resolved
Dear Sir,
I am working with a Private sector Bank. As per service regulations applicable, the privilege leave are permitted to be accumulated upto 240 days. These leave are permitted to be encashed at the time of superannuation/ retirement. However, if an employee resigns the Bank do not encash the same. There is no specific provision in this regard about the refusal of encashment. The Service conditions further stipulates that at the time of resigantion three months notice or payment in lieu thereof is permitted- That is to say that liquidated damages on resignation is three months notice or payment in lieu thereof specifically provided. Thus refusal of priviledge leave is arbitary.
The Banks are also governed by partial provisions of Shop & Establishment Act.
My query is whether priviledge leave earned during course of employment can be forfieted by employer when liquidated damages are already provided for resignation. Secondly, which Act governs the leave rules in case of Private sector Bank, which is basically a Banking Company within the meanings of the Companies Act 1956 & The banking Regulation Act 1949.
An early reply is solicited.
Thanks & Regard.
Raj Kumar Makkad
(Expert) 23 November 2009
fourth time posting on the same day. It has very well been replied by me at one place.
