hi... Need advice... How is leave calculated ? Calender year ie Jan to Dec? or Financial year ie April to March ? Regards
From India, Mumbai
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From India, Mumbai
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Hi, It varies from Organization to Organization. But most of the time it is JAN to DEC And leave is not a part of CTC. Regards Nidhi
From India, Ahmadabad
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2From India, Ahmadabad
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Dear,
Earned Leaves are accounted for the FY, the un-availed portion of which carries forward to the New Financial Year and thereafter until the employee leaves the organization either by resigning or by retirement. If he/she joins a new organization, the count begins at "0". At the time of leaving, the balance period of leaves is to be reimbursed as per the Financial Regulations (Fin Regs).
All other leaves are accounted for on a calendar-year basis, and any unavailed balance during the year will be forfeited and will not be carried over to the next year as mentioned above.
Regards,
Sarma - Mng(Adm)
From India, Hyderabad
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Earned Leaves are accounted for the FY, the un-availed portion of which carries forward to the New Financial Year and thereafter until the employee leaves the organization either by resigning or by retirement. If he/she joins a new organization, the count begins at "0". At the time of leaving, the balance period of leaves is to be reimbursed as per the Financial Regulations (Fin Regs).
All other leaves are accounted for on a calendar-year basis, and any unavailed balance during the year will be forfeited and will not be carried over to the next year as mentioned above.
Regards,
Sarma - Mng(Adm)
From India, Hyderabad
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It is advisable to calculate Privilege/Earned leave synchronizing with the Financial Year of the company (in your case from Jan to Dec) as it will facilitate the company for making provisions out of the current year's profits on account of Privilege leave encashment payable to employees at the time of retirement.
In case the leave account is maintained from Apr to Mar and FY is from Jan to Dec, the leave account of each employee has to be adjusted for three months synchronizing with the FY of the company every year for calculations of the above provisions which will increase the workload at the time of Annual Closing.
TR CHHABRIA
Mob: 9818444595
From India, Gurgaon
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In case the leave account is maintained from Apr to Mar and FY is from Jan to Dec, the leave account of each employee has to be adjusted for three months synchronizing with the FY of the company every year for calculations of the above provisions which will increase the workload at the time of Annual Closing.
TR CHHABRIA
Mob: 9818444595
From India, Gurgaon
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Dear,
Leave is for the calendar year only. Leave is calculated as one day for every 20 days worked. It is earned leave/annual leave. This is applicable for workmen only, subject to eligibility of 240 days worked in the previous year. If joined in the middle of the year, he should have worked 2/3 of the available days after his joining.
However, for staff, it varies depending on company policy.
With Wishes, N Kannabiran
From India, Madras
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Leave is for the calendar year only. Leave is calculated as one day for every 20 days worked. It is earned leave/annual leave. This is applicable for workmen only, subject to eligibility of 240 days worked in the previous year. If joined in the middle of the year, he should have worked 2/3 of the available days after his joining.
However, for staff, it varies depending on company policy.
With Wishes, N Kannabiran
From India, Madras
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Dear Sir,
My question is, "If an employee is offered a leave reimbursement amount for consolidated leave, i.e., 30 days, and the amount for the same is Rs. 45,000, is this amount part of the CTC component? Please advise me.
Regards,
Santosh HR
From India, Mumbai
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My question is, "If an employee is offered a leave reimbursement amount for consolidated leave, i.e., 30 days, and the amount for the same is Rs. 45,000, is this amount part of the CTC component? Please advise me.
Regards,
Santosh HR
From India, Mumbai
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Dear All,
For maintaining the leave accounts of individual employees, the calendar year is the best option. The largest employer in our country is the Government of India, which has over a century of experience. Since October 1, 1976, the GOI has standardized the earned leave accounts of all central government employees. Additionally, starting from January 1, 1986, half pay leave accounts have also been standardized. When an employee is recruited in the middle of the year, they are entitled to 2.5 days of earned leave for each completed calendar month until June 30th or December 31st, with regular advance leave credit on July 1st and January 1st every year. Similarly, a proportionate credit of half pay leave is provided until June 30th and December 31st, with an advance on July 1st and January 1st.
This system reduces the burden on HR in calculating leave for staff members and officers. I recommend that the private sector consider adopting a similar approach.
Shyam Agrawal
Casual leave, if any balance remains at the end of the year, lapses and cannot be carried forward in normal cases.
From India, Pune
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For maintaining the leave accounts of individual employees, the calendar year is the best option. The largest employer in our country is the Government of India, which has over a century of experience. Since October 1, 1976, the GOI has standardized the earned leave accounts of all central government employees. Additionally, starting from January 1, 1986, half pay leave accounts have also been standardized. When an employee is recruited in the middle of the year, they are entitled to 2.5 days of earned leave for each completed calendar month until June 30th or December 31st, with regular advance leave credit on July 1st and January 1st every year. Similarly, a proportionate credit of half pay leave is provided until June 30th and December 31st, with an advance on July 1st and January 1st.
This system reduces the burden on HR in calculating leave for staff members and officers. I recommend that the private sector consider adopting a similar approach.
Shyam Agrawal
Casual leave, if any balance remains at the end of the year, lapses and cannot be carried forward in normal cases.
From India, Pune
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As per the Factory Act, it is calculated from Jan - Dec, i.e., Calendar year. Most organizations apply this rule to the workers. In the case of staff members, it is normally calculated based on the joining date of the employee.
Thanks,
Prakash Salunkhe
From India, Pune
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Thanks,
Prakash Salunkhe
From India, Pune
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Format of leave record (year).pdf