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How do we calculate earned leave?

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How do we calculate earned leave?

When you retire, the total amount of earned leave will be calculated by taking 30 days earned leave for every year of completed service multiplied by the total service period….

  1. Annual Leave and Holidays.
  2. Leave Policy.
  3. Earned leave encashed at retirement is exempt from tax up to a maximum of Rs 3 lakh.

How is earned leave calculated for state Government employees?

27. Calculation of Earned Leave: (1) Earned leave shall be credited to the leave account of Government servant at the rate of 2½ days for each completed calendar month of service which he is likely to render in a half-year of the calendar year in which he is appointed.

How is 10 days leave encashment calculated?

7th CPC Leave Encashment Calculation Formula

  1. Earned Leave = [(Basic Salary + DA) / 30] x No of days.
  2. Hal Pay Leave = [(Half Pay Leave Salary + DA) / 30] x No of days.

How do I write an earned leave application?

How to Write an Earned Leave Application

  1. Address the letter to the connected authority who can approve your leave request.
  2. Mention the dates from which date to which date you want the leave.
  3. Write the reason for taking the leave.
  4. Make you request to mark the leaves as earned leaves (privilege leaves).

How much amount of leave encashment is tax free?

Leave salary encased during the period of service is fully taxable. Exempt from tax to the extent of least of the following: Three lakh rupees. Leave salary actually received.

Is leave encashment on basic or gross?

Leave encashment is only on Basic part. You may confirm form your HR depending on the policies of your company.

How many CL can be taken in a month?

Companies are strict when it comes to casual leave rules and allow a maximum of three days of casual leave in one month. Further, the employee should seek prior permission before availing this type of leave. Casual leaves are paid for by the employer.

Is Sunday included in casual leave?

Casual Leave is not earned by duty. Saturdays, Sundays, restricted holiday and holidays, whether intervening, prefixed or sufficed, shall not be counted as Casual Leave. iv. CL should not be granted for more than 5 days at any time, except under special circumstances.