Like a central government employee, the staff working in the Public Sector Undertaking also get the Leave Encashment on retirement or resignation from the company.
The Coal India Limited has revised the pay scales for the executives/non-executives working in the Maharatna CPSE and its subsidiary companies whose list is hereunder.
- Western Coalfields Limited (WCL)
- South Eastern Coalfields Limited (SECL)
- Northern Coalfields Limited (NCL)
- Mahanadi Coalfields Limited (MCL)
- Eastern Coalfields Limited (ECL)
- Central Coalfields Limited (CCL)
- Bharat Coking Coal Limited (BCCL)
At the time of leaving the PSU, an employee get the maximum Ten months salary depending on the total numbers of accumulated leave in his/her account.
If you know the Basic Pay at the time of superannuation, you can get the Leave Encashment amount by putting the values n the following calculator.
We have prepared a formula for calculation of the leave encashment for the profit-making public sector enterprises. You only need to enter the basic pay at the time of retirement to calculate the benefits.
3rd PRC Leave Encashment
The profit-making PSUs have already implemented the 3rd PRC benefits for their employees from 1st January 2017.
The following CPSEs have extended the 3rd Pay Revision Committee benefits to their staff.
Coal India, NTPC, ONGC, GAIL, BHEL, Power Grid, FCI, HPCL, BPCL, IOCL, NHPC, BEL, TCIL, MOIL, NMDC, MDL, NBCC, PFC, POSOCO, NALCO, NLC, AAI, EIL, and PFC.