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) for which you want to allow employees to apply for leave encashment at any time during the year and click on the three dots then select Update (2).

Now directly switch to Year end processing section and check the box for Leave encashment is allowed which is located under Encashment dropdown.

Now set if the encashment based on the "fixed no. of leave balance" or based on the "percentage of leave balance".



Now, you need to set the criteria When leave balance exceeds__days encash upto__days(1).

Set other Encashment criteria by checking the option Allowed before ___th of the month(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.

Please let us know if you found this document helpful.

Need more help? Please feel free to refer to other articles available across this portal or get in touch with one of our product experts!