I have just joined a company where there was no HR department. The leave cycle they follow is the accounting year, i.e., April - March, and they offer 15 paid leaves. So, now I have to wait until March before I introduce some changes.
Just wanted to clarify if there is anything wrong with continuing with the same cycle, i.e., April - March, instead of following the calendar year like most companies. Should I have some leaves for April 2011 to December 2011 this year and then change it to Jan - Dec in 2012, or should I carry on with the same cycle and make it April - March - 2012?
From India, Mumbai
Acknowledge(0)
Amend(0)
2Just wanted to clarify if there is anything wrong with continuing with the same cycle, i.e., April - March, instead of following the calendar year like most companies. Should I have some leaves for April 2011 to December 2011 this year and then change it to Jan - Dec in 2012, or should I carry on with the same cycle and make it April - March - 2012?
From India, Mumbai
Acknowledge(0)Amend(0)
Hi,
I don't think there is any problem in continuing with the same cycle, i.e., April to March. If you want to initiate changes, do it from April this year; otherwise, it leads to confusion. Or if you want to change the cycle, then go ahead and introduce changes.
Regards,
Archna
From India, Delhi
Acknowledge(0)Amend(0)
I don't think there is any problem in continuing with the same cycle, i.e., April to March. If you want to initiate changes, do it from April this year; otherwise, it leads to confusion. Or if you want to change the cycle, then go ahead and introduce changes.
Regards,
Archna
From India, Delhi
Acknowledge(0)Amend(0)
It is better to synchronize the leave cycle with the financial year (FY) of the company as it facilitates the calculation of the company's liability towards leave encashment, considering the accounting standards followed by the company. When the leave cycle is based on a calendar year, leave due for three months (January to March) every year must be calculated for each employee annually for the above purpose, leading to an increase in workload during financial closing.
TR Chhabria
From India, Gurgaon
Acknowledge(0)Amend(0)
TR Chhabria
From India, Gurgaon
Acknowledge(0)Amend(0)
Dear friends,
So far, the issue of leave falls under The Factories Act. The counting of leave is basically taken on working days from January to December as per the provisions of the said act, and it is referred to as the "calendar year."
KIRAN KALE
From India, Kolhapur
Acknowledge(0)Amend(0)
So far, the issue of leave falls under The Factories Act. The counting of leave is basically taken on working days from January to December as per the provisions of the said act, and it is referred to as the "calendar year."
KIRAN KALE
From India, Kolhapur
Acknowledge(0)Amend(0)
So, you mean there is no harm in continuing with the financial year for leaves ? Can I have 21 privilege leaves as per Bombay Shops & Establishment Act from April this year ?
From India, Mumbai
Acknowledge(0)Amend(0)
From India, Mumbai
Acknowledge(0)Amend(0)
we follow Apr to Mar Cycle. Please guide me in case any employee join in Dec how many Pl will he be applicable.
From India, Mumbai
Acknowledge(0)Amend(0)
0
0
From India, Mumbai
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Checked)-The number of paid leaves for an employee joining in December should be calculated on a pro-rata basis based on the number of months they will be working until the leave cycle ends in March. This means the employee would be entitled to 4 paid leaves for December to March in this scenario. (1 Acknowledge point)
0
0
Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
CiteHR.AI
(Fact Checked)-The user's reply is correct. It is advisable to synchronize the leave cycle with the financial year to ease the calculation of leave liabilities and align with accounting practices. (1 Acknowledge point)