Earned Leave Encashment In Maharashtra

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1

Under Maharashtra Shop & Establishment Act, please enlighten me

  1. Is Leave Encashment Mandatory at the time of Exit?
  2. What is the formula for Leave Encashment?
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2

Here is below our comments.

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3

Or Basic *no of days eligible /365

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4

Yes if there is a balance available for the employee then the payment should maid by the company.
the formula is = basic/30*no of leave days balance
some companies have limits for encashment days also.

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5

Hi,

It depends upon the company policy. If Leave encashment applicable it should be settled along with full & final settlement.

Formula will be Basic/26 * No. days (most of the companies follows this)

Regards,

VK Saravanan

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6
  1. Is Leave Encashment Mandatory at the time of Exit? - This is as per the company Policy and Offer Letter terms
  2. What is the formula for Leave Encashment? Actual Basic/30*No of Leave encashment days.
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