Unavailed leave - meaning

It can also be a Leave Encashment (Payable to Employee, without him leaving the company).

As per common parlance, each month/quarter/year the employee gets are credit of some days in his Priviledge Leave balance. If that PL balance accumulates beyond a certain point, that can be encashed by employee. Eventhough the encashment might not have happened, the company can provide provision for the same in the books.

Ok so, unavailed leave = unused holidays (for which employees, whether staying or leaving the company, may claim a cash compensation, for this reason the company should establish a provision called “unavailed leave”). Right ?  

as per Act there are no such provision for leave encashment while in service, however in case of accumulation of  unavailed leave,the leave encashment have to made under these condition i.e

in case of detath of person/employee

in case of  permanent total disablement

in case of leaving the employment