Lets assume a company utilizes contract workers from a manpower services provider. i.e eg: tiktaktoe is a manpower services provider. boyboy works for tiktaktoe. But he is deputed at a zimcola, an MNC. boyboy will have a zimcola id card (contractor), but he will get his salary slip from tiktaktoe.
So, boyboy will have 18 Earned Leaves (EL) apart from 12 Casual leaves.
The Earned leaves are encashable. boyboy’s salary is as follows:
Basic: Rs.3009
DA/VDA: Rs.720
HRA: 3108
Conveyance: Rs.6013
Gross: 12,850
So what is the amount he will get if he encashed 18 leaves? is it 12,850/30 days*18 leaves?
Is there any specific labour law in India that prescribes the rate of encashable leaves? (I mean is it based on gross salary or only on base salary or is there different slabs for different companies?)
Your help in this highly appreciated.