Encashment of Leave salary for LTC
Mr. Dalvi C.G asked
Please clarify whether Leave encashed at the time of availing LTC is to be deducted from the leave account of employee at the same time or not. Also clarify whether separate account of 60 EL encashment is to be maintained?
GC Team’s opinion
While availing Leave Salary encashment for LTC, the leave encashed should be deducted from the EL credit at that time itself along with EL taken for LTC.
But this is not applicable for all cases as LTC can also be availed on CL.
In that case only encashed EL is be deducted.
But this Leave encashment debit should be made separately in red ink. An abstract as hereunder may be maintained in LA it self
|LTC Leave Encashment Account|