How we can format leave policy How many earned leaves can be accumalted to next year and how many earned leaves can encashed.
From India, Delhi
1From India, Delhi
Hi,
There are no thumb rule to it. You can design the leave policy according to your business need. Following are some of the market practices.
You can have leaves either as per calendar year (Jan - Dec) OR financial year (Apr - Mar).
For an eg:
If your organisation has 21 EL around 12 - 15 can get carry forward to next year. Carry forwarded leaves can get laps in the end of second quarter of the year. At the time of separation from services the EL balance will be adjusted against full and final
settlement.
In second scenario you can simply pay them the balanced EL's however you have to give a cap to it. For an eg: You can pay them upto 10 leaves. If leaves are more than 10 balanced leaves will get laps.
The third scenario which I follow and it has ease my life. Give them total leaves in an year. For an eg: 21 which is 1.75 in a month. They cant carry forward the leave simply encash at the end of the year.
Hope it helps!!!
From India, Pune
There are no thumb rule to it. You can design the leave policy according to your business need. Following are some of the market practices.
You can have leaves either as per calendar year (Jan - Dec) OR financial year (Apr - Mar).
For an eg:
If your organisation has 21 EL around 12 - 15 can get carry forward to next year. Carry forwarded leaves can get laps in the end of second quarter of the year. At the time of separation from services the EL balance will be adjusted against full and final
settlement.
In second scenario you can simply pay them the balanced EL's however you have to give a cap to it. For an eg: You can pay them upto 10 leaves. If leaves are more than 10 balanced leaves will get laps.
The third scenario which I follow and it has ease my life. Give them total leaves in an year. For an eg: 21 which is 1.75 in a month. They cant carry forward the leave simply encash at the end of the year.
Hope it helps!!!
From India, Pune
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