Requesting
When a leave type allows it, the balance shows an Encash button. Enter the days (in halves); an estimate in rupees is shown when payroll is set up for you. The type can set a minimum balance to keep, a maximum per request and a number of requests a year.
Approving (HR)
Encashment requests are decided by HR, never by the requester. Approval re-checks the balance, deducts the days and raises a payment in the pay month you choose. A pending request does not hold the balance, so approval refuses if the days have since been used.
At exit, unused encashable leave is settled in full and final instead.