PBS KUMAR (HR - PROFESSIONAL) 28 March 2008

LEAVE ENCASHMENT

Dear Friends,

Will you please supply the full details of 'Leave Encashment'.

For example our firm is giving 30 days of EL 'NO' other leaves.

The accumlation of leave is 60 days. If it cross we are allowing for encashment. Now the proble is comming. The management is asking to utilise the leave but we are not allow for encashment. It will be allowed at the time of leaving service. Is it justifiable ??????

Regards,

PBS KUMAR

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6 Replies

Chitra Sharma (Executive - HR) 28 March 2008

Yes, it completely depends on the company policy. As in my company they can accumlate upto 63 leaves (only EL) but anything after that it would lapse.

Guest (n/a) 01 April 2008

I think you should a make policy like mendatory leave in any calander year so that employee can balance between their personal as well professional life and accumulate minimum leaves. also you can make some condition like encashment will be available only after certain period of time like complition of 4-5 years.before leaving the organisation stipulated time employee can only get adjustment from shrt notice and no encashment. Radhey

Guest (n/a) 01 April 2008

As per law maximum 42 leaves can be accumulated any thing beyond that would lapse. But if the company follows a policy which is more favorable then it should continue to follow the same. Actually the employee should be entitled to 1 paid leave for every 20 working days. If he completes 240 days of employment in a year he should be entitled to 21 leaves.

PBS KUMAR (HR - PROFESSIONAL) 08 April 2008

Dear Friends, Your views are correct ofcourse, I made the leave policy- "in that I mentioned if any empployee crosses 60 days of ELs , the excess leaves will be encashble". This was continuing two years .But now new Head has come and he has given instructions 'NO' encachment. Utilise the leave or laps it out. In that case employess in the important places will be effect. So Please give your suggestions which will be helpful for me to emphasises our management and safe guard our employees. Regards, PBS KUMAR pbs_kumar@rediffmail.com

Chitra Sharma (Executive - HR) 08 April 2008

Hi! Frnds I think for now we can follow the management. Coz this practice is being taken up by all the companies now-a-days. Wht best we can do is we can suggest the management to fix a particular amount as bonus or reward(for those who have accumlated 60 EL) but would be paid next year for which the leaves will not be encashed. If the employee uses his PL then no need to give the bonus. This would be good for the employee as well as the management. Just try for it.

Guest (n/a) 08 April 2008

Dear All, Any one having enactment of ELS encashment please supply. Most urgent please. Regards, PBS KUMAR

LEAVE ENCASHMENT

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