AS 15

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service
27 Points Posted on 22 January 2008

Hi Friends,

could some body tell me about provision of unutilised leaves. the company has very small employee strength and only one employees are there who worked for over a year and rest 7 employees are joined during the current year. company dost't has system of leave encashment.

please suggest provision is required for unutilised leave are not ?

Thanks

R. S Pandey

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On 22 January 2008 at 08:30 Report
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CAO
318 Points Posted on 22 January 2008
Provision has to be made on Balance sheet date.By calculating the Leave encashment payable on such date.
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On 22 January 2008 at 11:09
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Service
120 Points Posted on 22 January 2008
Hi I believe, If the company doesn't have the policy on leave encashment, then there is NO need do the valuation or provision in the books of accounts.
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On 22 January 2008 at 14:52
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SERVICE
29 Points Posted on 22 January 2008
When there is no provision of leave encashment as per terms of emnployment between the employer & employee, there is no question of liability for unutilised leave.
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On 22 January 2008 at 16:16
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CAO
318 Points Posted on 23 January 2008
Thank you sir for correcting me
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On 23 January 2008 at 15:53

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