7. ENCASHMENT OF LEAVE
(As approved by Board of Management and circulated
vide Circular No.NCDC:9-1/75-Admn. Dated 27.11.1976)
1.All employees of the Corporation who are entitledforearnedleaveinaccordance with the rules andregulations in forcewillbecoveredby the Scheme.
2.OnlyEarnedLeave on fullpaycanbe encashed.
3.Encashment of EarnedLeavewillbeallowed onlyoncein a calendar year. The total period of earned leave actuallyavailed of and the earned leave encashed should not together exceed 120 days atany one time.
4.Only thatpart of EarnedLeave which is inexcess of 30 days to the credit of the employee could be encashed subject to a maximum of 30 days at a timeduringanycalendar year. Such option can be exercised only once during a calendar year. The number of days of Earned leave encashed by an employee shall be reckoned as surrendered on the date of sanction of encashment and shall be deducted from the leave account of the employee concerned.
5.An employee having encashed a part of hisearnedleaveduring one calendar year shallnotbeentitledtoavail of similar encashment in the next calendar year unlessthere is a cleargap of minimum ninety days.
6.In the case of employees on the verge of retirement, the period of leave encashed should notexceed the period of dutybetween the date of expiry of the earned leave actually availed of and the date of compulsory retirement.
7.The benefit of encashment of earnedleavewillnot be admissiblein the cases of leave preparatory to retirement or refused leave.
8.The authorities who are empoweredtosanctionearnedleavewillbecompetent to sanction encashment of leave also.
9.The leavesalaryandDearness Allowancefor the period of encashed leave shall bepaidin full. No deduction on account of Provident fund subscription, House Rent Allowance and repayment of any advance etc. shall be made from this amount.
10.The benefit of encashment of earnedleavewillalso be admissibleto the employees of the Corporation who are on ForeignService to other organizations.
11.In the case of employees belonging toother organizations, who may be serving the Corporation on deputation basis, the encashment of leave would be governedby the terms and conditions of their deputation.
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NATIONAL COOPERATIVEDEVELOPMENT CORPORAITON
(Administration Division)
Application forEncashment of Earned Leave
(To be submitted in duplicate)
Nameinblock letters / :Designation / :
Division/Section posted / :
Whether ondeputationtoanyoutside organization / :
Basic Pay / :
No. of days of leavedesiredtobe encashed / :
Dateon which encashment is desired / :
Calendar yearto which encashment pertains / :
No. of day of leavelast encashed, its period; and the year of encashment / :
Dates of last spell of EL availed / :
Approximate earnedleave at credit / :
Signature of Applicant…….…………
Date of application………………
Note:-
1.During the calendar year, EarnedLeave either for 15 days or 30 days maybe encashed once, provided a balance of 30 days is leftbehindafter deducting the period of encashment
2.For the purpose of para 5 of the scheme, the period of 90 days willbereckonedfrom the 1st day of the monthfollowing month in which the leave is encashed. In other words, there should be a gap of 3 calendar months between encashment in one calendar year and encashment in the following year.
- The application should be submitted in duplicate.
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