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Meaning of leave encashment

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Querist : Anonymous

Querist : Anonymous (Querist)

15 April 2015 Dear expert
plz let me know the means of leave encashment...

plz reply soonest...

CA John Abraham Austin ACA

CA John Abraham Austin ACA (Expert)
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15 April 2015 Many organizations will be having policy in giving one or two allowed leaves in a month.
If the does not employee avail it, he will be given credit of that.
After the completion of specified period, the leave at the credit will be compensated by giving him as Leave Encashment.
Since he has forgone allowed leaves, it will be given as a compensation w.r.t thsi salary.
This is the concept of Leave Encashment.

CA John Abraham Austin ACA

CA John Abraham Austin ACA (Expert)
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15 April 2015 It may be in the form of Cash/ Bank transaction generally.

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