1. What Is Selling Back Leave?

Selling back leave refers to the process where employees in Malaysia can convert their unused annual leave days into monetary compensation based on their daily rate of pay.

2. How Does The Calculator Work?

The calculator uses the simple formula:

Where:

• \( days \) — Number of leave days to be sold back
• \( my\_rate \) — Employee's daily rate in Malaysian Ringgit (MYR)

Explanation: This calculation provides the total monetary compensation an employee would receive for selling back their unused leave days.

3. Importance Of Calculating Leave Pay

Details: Accurate calculation of leave pay is crucial for both employers and employees to ensure fair compensation for unused leave days and proper financial planning.

4. Using The Calculator

Tips: Enter the number of leave days and your daily rate in MYR. Both values must be positive numbers to calculate the total compensation.

5. Frequently Asked Questions (FAQ)

Q1: Is selling back leave allowed for all employees in Malaysia?
A: This depends on company policy and employment contract terms. Not all employers offer this option.

Q2: How is the daily rate calculated?
A: The daily rate is typically calculated as monthly salary divided by the number of working days in that month.

Q3: Are there tax implications for selling back leave?
A: Yes, the amount received from selling back leave is generally considered taxable income in Malaysia.

Q4: Is there a maximum number of days that can be sold back?
A: This varies by company policy. Some employers may limit the number of days that can be converted to cash.

Q5: Can this calculator be used for other types of leave?
A: This calculator is specifically designed for annual leave. Other leave types may have different calculation methods.