How to enable leave encashment anytime during the year?

The phrase "leave encashment anytime during the year" typically refers to a policy or provision that allows employees to convert their unused accrued leave into monetary compensation at any point during the calendar year. This policy provides employees with the flexibility to request the conversion of their unused leave days into cash whenever they choose, as long as it falls within the designated year. However, the specific details and guidelines for availing leave encashment anytime during the year may vary depending on the organization's policies and practices.

Let us take a look at the steps for enabling leave encashment for employees throughout the year.

Go to the Time Attend (1) section, and click on Leave (2). You will be directed to the Leave Plans (3) tab.

Select the Leave Plan (1) (If there are multiple) and navigate to the leave type for which you want to allow employees to apply for leave encashment at any time during the year. Beside the leave type click on the three dots and then click on Settings (2).

Click on Save & Continue till you reach the 3rd point, Additional Restrictions (1), and click on the option "Allow employees to request for leave encashment anytime during the year"(2).

Once you enable/check the box beside "Allow employees to request for leave encashment anytime during the year" you will get a set of options where you will have to set the encashment based on the "fixed no. of leave balance" or based on the "percentage of leave balance" (1).

Now, you need to set the criteria of how many days of leave an employee can encash if the total leave balance exceeds _x_ days (1). Set other criteria by checking the option "Do not allow employees to apply for leave encashment after __th day of the month. All balances will be carried forward. There are more options of whether an employee "who in probation/notice period can apply for the leave encashment or not", and there is an additional option "Let manager apply for leave encashment on behalf of the employee (2)".

After configuring the required settings, click on Save & Close (3).

We hope that you now have a better understanding of how to enable leave encashment for employees anytime during the year on Keka.

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