Leave encashments.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 August 2011
sir,
1.I want to know the detail provisions related to leave encashments?
2.Is it mandatory for every organisations? specifically I want to about education institution(college) run by private trust and funded by state govt.?
3.How can we get its current liability?
4.How is calculation method?
1.I want to know the detail provisions related to leave encashments?
2.Is it mandatory for every organisations? specifically I want to about education institution(college) run by private trust and funded by state govt.?
3.How can we get its current liability?
4.How is calculation method?
07 August 2011
First of all at the time of your appointment it is to be seen what are the provisions of leave and its encashments. Leave encashment is those leaves which you are entitled but you not availed. Either you avail or encash it. Once you not availed it is accumulated. You have see the provision for accumulation. If your owner allows you to accumulate ten only you can do it.
Every year the calculation is done it is carried forward. The accumulated leave can be encashed every year. If during the service period it is encashed then it is taxable but if it is calculated after retirement the same is not taxable
Every year the calculation is done it is carried forward. The accumulated leave can be encashed every year. If during the service period it is encashed then it is taxable but if it is calculated after retirement the same is not taxable
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