The formula to calculate the Selling Leave Value is:
\[ SL = \frac{BP}{30} \times D \]
Where:
Selling leave refers to the practice of converting accrued leave into monetary compensation. This is often done by employees who prefer to receive payment instead of taking time off. The selling leave value is calculated based on the employee's base pay and the number of days of leave they wish to sell.
Let's assume the following values:
Using the formula:
\[ SL = \frac{3000}{30} \times 10 = 1000 \]
The Selling Leave Value is \$1000.
Let's assume the following values:
Using the formula:
\[ SL = \frac{4000}{30} \times 15 = 2000 \]
The Selling Leave Value is \$2000.