Bokaro: Steel Authourity of India Limited (SAIL) on Tuesday has allowed encashment of earned leave to its employees. The circular in this regard has been issued to all the units and plants of the SAIL. Bokaro Steel Officer Association (BSOA), A K Singh has welcomed such direction of SAIL in benefit of the employees. He thanked SAIL, Chairman and other directors for taking up their demands positively.
SAIL sources said, earlier the encashment of leave was discontinued for serving employees on account of the stressed financial condition of the company. It has now been decided to allow Encashment of Earned leave to employees as per the following conditions:
i) Executives and other CDA governed employees (having EL accumulation of 300 days) who have more than 270 days of EL balance, may encash their EL balance in excess of 270 days, such that the balance in EL after such encashment is not less than 270 days.
(ii) Employees governed under Standing Orders (having EL accumulation limit of 200 days), who have more than 170 days of EL balance, may encash their EL balance in excess of 170 days, such that the balance in EL after such encashment is not less than 170 days.
iii) The encashment of EL shall be allowed only once in a financial year.
iv) All employees who opt for encashment of EL as per the above guidelines up to 20 of the month shall be paid the amount along with the salary of that month. Employees who apply after the 20th of the month shall be paid in the following month along with salary.
v) However, employees opting for the encashment for the month of November, 2020, shall be allowed to apply for EL encashment till 27 November, 2020. All such employees shall be paid the EL encashment amount along with salary of November, 2020.