Sumopayroll provides customized leave encashment policies. Just by selecting a particular month in the company settings in the Vacation and Holiday column the leave rest month can be updated.
Calculation of leaves for each and every employee is a complicated process that varies from company to company. Each company may have its own leave structure consisting of various payroll components that may be unique to that company. Based on the selection the particular month for which the leaves need to be encashed the calculation is been done.
It involves the following broad steps
- Selection of the leave reset month depending on the requirement.
- Option to update the month whenever required.
- Reviewing the employee’s leaves as well as managing leaves for the financial year.
- Options of leaves like Encashment or Rollover or Reset for the employees while processing payroll for the chosen month.
- Automated calculation of the leaves for the encashment.