Leave encashment
This query is : Resolved
04 March 2009
IN Leave encashment income tax allow us to encash the unavailed leaves @ 30 per completed year of service.If 25 leave are allowed in the company & employee worked for 2yrs.5 months & availed no leaves.He encash all leaves i.e.725(29*25) as per company policy .
Now my Ques. is that whether he will be allowed 625
Now my Ques. is that whether he will be allowed 625
04 March 2009
Dear Balaji,
If employee worked for 2yrs and 5 month than max leave allowed will be 50 i.e. 25*2 and income tax says that max. of 30 days leave in a year.
In a case when employee is getting less leave, the lesser one should be considered
If employee worked for 2yrs and 5 month than max leave allowed will be 50 i.e. 25*2 and income tax says that max. of 30 days leave in a year.
In a case when employee is getting less leave, the lesser one should be considered
04 March 2009
thanks for ur kind reply
04 March 2009
Are your sure your Company allows its employees to avail 25 days leave per MONTH !
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