To manage Leave Encashment, define when employees are allowed to request the payout of their unused leave balance.
Encashment Frequency: Choose whether employees can request encashment yearly, half-yearly, or quarterly.
Encashment Cycle Reference: Select whether the encashment cycle is based on the Calendar Year or each employee’s Joining Date.
Allowed Before [X] of the Month: Set a cut-off day by which employees must submit their encashment request.
- Example: If “3” is entered, employees must submit the encashment request on or before the 3rd day of the applicable month.
Purpose: This ensures leave encashment is processed on time and in alignment with company policies.