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leave encashment

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(Querist)
23 December 2008 In a pvt. ltd. co. on what basis of leave can be encashed by co. to employee. Is on the basis of Basic Salary or Gross Salary.If total accumulated leave 60 days and Basic sal-5300/-,Hra-2120/-,medical-1250/-,conveyance-1500/-,edu. all-1000/- & spl. allowance-1750/-(Total Gross Salary-12920/).So what will be the calculation and plz also specify the section also.
Plz resolve it as soon as possible.Here I am waiting for the best reply.
plzzzzzzzzzzzzzzzzz replyyyyyyyyyyyyyyyyyy.
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Amit Kumar

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Amit Kumar (Querist)
24 December 2008 0
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
29 March 2012 It depends on the company policy. The company decides whether encashment is made at basic salary or total salary.

Normally companies follow a policy of encashing leave at basic salary.
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