Ordinary leave encashment permits annual claims, death or incapacity benefits, and limited encashment upon resignation after proper notice. Ordinary leave encashment may be permitted annually where the employee maintains the required leave balance, and the policy may be modified to encourage ... Summary
International Financial Services Centres Authority (Employees' Service) Regulations, 2020
Ordinary leave encashment permits annual claims, death or incapacity benefits, and limited encashment upon resignation after proper notice.
Ordinary leave encashment may be permitted annually where the employee maintains the required leave balance, and the policy may be modified to encourage minimum leave utilisation. Cash equivalent of unavailed earned leave may be granted on death or medically certified permanent incapacity, with legal heirs eligible in case of death. An employee resigning after proper notice may be permitted to encash half of the ordinary leave standing to their credit, subject to the prescribed maximum limit.
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