Dear, Here is an attached file of Employee Benefits Acts. Hope it will help you. Thanks, Priyanka
From India, Bhubaneswar
Acknowledge(0)
Amend(0)
6From India, Bhubaneswar
Acknowledge(0)Amend(0)
Thanx a lot for posting all these attachment at one place. Nw I am assure it will somehow help me in my placement interview. Thanx with regards PRIYA SINGH
From India, Bangalore
Acknowledge(0)Amend(0)
From India, Bangalore
Acknowledge(0)Amend(0)
Hi priyanka, thnx for sharing all ppt’s, which wud help me in my presentation too... keep posting :)
From India, Mumbai
Acknowledge(0)Amend(0)
From India, Mumbai
Acknowledge(0)Amend(0)
Hi, I really Appreciate your effort for providing such a presentations, Keep posting good stuff. With Regards Shariff
From India, Mumbai
Acknowledge(0)Amend(0)
From India, Mumbai
Acknowledge(0)Amend(0)
Hi priyanka, thnx for sharing all ppt’s, which wud help me in my presentation too... it’s so useful thanxs montykarr
From India, Delhi
Acknowledge(0)Amend(0)
From India, Delhi
Acknowledge(0)Amend(0)
Is there any law on LEAVE for employees in private limited company? Or the company ha s the right to set any "Leave Policy".
From United States
Acknowledge(0)Amend(0)
From United States
Acknowledge(0)Amend(0)
Dear HR Gurus,
Apologies for posting a new topic under an irrelevant discussion. (As I am not able to figure out how to post a new topic for discussion). I have a query on Leave Encashment policies followed by various organizations. In my company, the management does not prefer leave encashment. In short, balance leaves are lapsed (which is demotivating to employees). The management states that there are tax implications, or the company has to pay tax if they provide leave encashment benefits. Could you please advise if this is accurate? Or is it that the company simply does not want to provide this benefit to its employees?
If there are compliance issues, please suggest a way where management and employees can both be happy.
Thanks in advance!
Regards, Kavitha
From India, Surat
Acknowledge(0)Amend(0)
Apologies for posting a new topic under an irrelevant discussion. (As I am not able to figure out how to post a new topic for discussion). I have a query on Leave Encashment policies followed by various organizations. In my company, the management does not prefer leave encashment. In short, balance leaves are lapsed (which is demotivating to employees). The management states that there are tax implications, or the company has to pay tax if they provide leave encashment benefits. Could you please advise if this is accurate? Or is it that the company simply does not want to provide this benefit to its employees?
If there are compliance issues, please suggest a way where management and employees can both be happy.
Thanks in advance!
Regards, Kavitha
From India, Surat
Acknowledge(0)Amend(0)
Dear Kavitha,
In every organization, there is a leave encashment policy under which unavailed casual leaves and earned leaves are encashed in the employee's account. No tax penalty will be incurred by the company if it provides leave encashment to its employees.
Unavailed earned leaves will be encashed at a rate of (Basic+DA)/26, while unavailed casual leaves will be encashed at a rate of (Basic+DA)/30. The leave encashment rate can vary from company to company.
If you have any other queries, feel free to contact.
Regards,
Sandeep Sharma
Hero Motocorp Ltd.
Gurgaon
E-mail - sandeep.sharma@heromotocorp.com
From India, Delhi
Acknowledge(0)Amend(0)
In every organization, there is a leave encashment policy under which unavailed casual leaves and earned leaves are encashed in the employee's account. No tax penalty will be incurred by the company if it provides leave encashment to its employees.
Unavailed earned leaves will be encashed at a rate of (Basic+DA)/26, while unavailed casual leaves will be encashed at a rate of (Basic+DA)/30. The leave encashment rate can vary from company to company.
If you have any other queries, feel free to contact.
Regards,
Sandeep Sharma
Hero Motocorp Ltd.
Gurgaon
E-mail - sandeep.sharma@heromotocorp.com
From India, Delhi
Acknowledge(0)Amend(0)
Oh, thanks Sandeep. I have got my answer. By the way, our company is manufacturing-based. What would be the right combination of leave categories? Also, I assume leave can be accumulated for N number of years to be encashed either during exit or retirement, right?
From India, Surat
Acknowledge(0)Amend(0)
From India, Surat
Acknowledge(0)Amend(0)
Dear Kavitha,
In our organization, we follow the following leave combinations per year:
- Casual leave: 10 days
- Sick leave: 10 days
- Earned Leave: 18 days (1.5 per month)
- Accumulation limit for EL: 150 (If EL exceeds the limit of 150, it will be encashed to the employee's account)
- Accumulation limit for SL: 60 (If SL exceeds the limit of 60, it will be encashed to the employee's account)
- Unavailed CL leaves will be encashed at the end of every year.
- So, leaves cannot be accumulated for N number of years beyond the maximum limit.
- During Exit/Retirement, all unavailed leaves are encashed.
Clear?
Where is your organization, by the way, and what does it manufacture?
Regards,
Sandeep Sharma
Hero MotoCorp Limited
From India, Delhi
Acknowledge(0)Amend(0)
In our organization, we follow the following leave combinations per year:
- Casual leave: 10 days
- Sick leave: 10 days
- Earned Leave: 18 days (1.5 per month)
- Accumulation limit for EL: 150 (If EL exceeds the limit of 150, it will be encashed to the employee's account)
- Accumulation limit for SL: 60 (If SL exceeds the limit of 60, it will be encashed to the employee's account)
- Unavailed CL leaves will be encashed at the end of every year.
- So, leaves cannot be accumulated for N number of years beyond the maximum limit.
- During Exit/Retirement, all unavailed leaves are encashed.
Clear?
Where is your organization, by the way, and what does it manufacture?
Regards,
Sandeep Sharma
Hero MotoCorp Limited
From India, Delhi
Acknowledge(0)Amend(0)
Dear Sandeep,
Your company really has a very good policy. Our company is a Panel Manufacturing and Automation based company in Gujarat (Surat) - Cotmac Electronics.
Regarding leave, we do not have any bifurcation. We provide a flat 30 days (2.5 accrued) every month. At the end of the year, all balances are lapsed, with no carry forward or encashment. This approach demotivates employees. Management diplomatically states that they want employees to take leave and relax, but issues arise when there are ongoing projects and a shortage of manpower, leading to a lack of holidays being provided. Consequently, employees perceive that the company aims to let the leave lapse to avoid paying them.
That's the current scenario!
Thank you.
From India, Surat
Acknowledge(0)Amend(0)
Your company really has a very good policy. Our company is a Panel Manufacturing and Automation based company in Gujarat (Surat) - Cotmac Electronics.
Regarding leave, we do not have any bifurcation. We provide a flat 30 days (2.5 accrued) every month. At the end of the year, all balances are lapsed, with no carry forward or encashment. This approach demotivates employees. Management diplomatically states that they want employees to take leave and relax, but issues arise when there are ongoing projects and a shortage of manpower, leading to a lack of holidays being provided. Consequently, employees perceive that the company aims to let the leave lapse to avoid paying them.
That's the current scenario!
Thank you.
From India, Surat
Acknowledge(0)Amend(0)
As I saw on the internet, Cotmac is a good organization, so it must have an employee-friendly environment. Also, leave encashment is not mandatory, but employees can avail of all leaves. Management must think about that, dear, because demotivated employees will not focus on work properly, and ultimately, the organization will be in deep trouble after some time.
Regards,
Sandeep
Hero MotoCorp Ltd.
From India, Delhi
Acknowledge(0)Amend(0)
Regards,
Sandeep
Hero MotoCorp Ltd.
From India, Delhi
Acknowledge(0)Amend(0)
Dear HR Gurus,
Apologies for posting a new topic under an irrelevant discussion. (As am not able to figure out how to post a new topic discussion). I have a query on Leave Encashment policies followed by various organizations. In my company, the management does not prefer leave encashment. In short, balance leaves are lapsed (which is demotivating to employees). The management says there is some tax or the company is paying a tax amount in case they provide leave encashment benefit. Please suggest if there is anything like this, or if the company doesn't want to provide this benefit to its employees.
If yes, there are compliances, then please suggest a way where management and employees are both happy!
Thanks in advance!
Regards,
Kavitha
Dear Madam,
Many organizations smartly avoid payment of leave encashment. To please both management & employees, it is suggested that leave encashment can be made based on the salary on which PF is worked out. The normal practice is either on Basic or Basic+DA. I have suggested a via media.
Regards,
R. Sitaram
From India, Mumbai
Acknowledge(0)Amend(0)
Apologies for posting a new topic under an irrelevant discussion. (As am not able to figure out how to post a new topic discussion). I have a query on Leave Encashment policies followed by various organizations. In my company, the management does not prefer leave encashment. In short, balance leaves are lapsed (which is demotivating to employees). The management says there is some tax or the company is paying a tax amount in case they provide leave encashment benefit. Please suggest if there is anything like this, or if the company doesn't want to provide this benefit to its employees.
If yes, there are compliances, then please suggest a way where management and employees are both happy!
Thanks in advance!
Regards,
Kavitha
Dear Madam,
Many organizations smartly avoid payment of leave encashment. To please both management & employees, it is suggested that leave encashment can be made based on the salary on which PF is worked out. The normal practice is either on Basic or Basic+DA. I have suggested a via media.
Regards,
R. Sitaram
From India, Mumbai
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
Office Order regarding Maternity Leave for Contractual employee as per Amendment Act 2017.pdf
Employee Benefits.doc