1. Is your salary range below 5k? If it is then you are covered under the employment act. U can drop a call to labor department to seek advice on the salary in lieu of notice. Anything above 5k will be at the discretion of the company's hr and management of which most likely will include all the fixed allowances as salary in lieu of notice.

2. Best is to seek your HR for exact calculation on balance of leaves to offset your notice.