Hi
I am working in an IT company (start-up) & in process of formulating hr policies. This is regarding the leaves - wanted to know whether the leaves are calculated on basis of calender year or financial year. If so can you please give the reason why they have to be calculated accordingly....
Also please help me how the leaves are calculated in pro-rata basis..
Waiting for your help eagerly....
Thanks in anticipation..
Thanks & Regards
Harini
From India, Hyderabad
I am working in an IT company (start-up) & in process of formulating hr policies. This is regarding the leaves - wanted to know whether the leaves are calculated on basis of calender year or financial year. If so can you please give the reason why they have to be calculated accordingly....
Also please help me how the leaves are calculated in pro-rata basis..
Waiting for your help eagerly....
Thanks in anticipation..
Thanks & Regards
Harini
From India, Hyderabad
Hi,
You can achieve this.
You need to check for the joining date of the employee(for new joinee) to alot the leave son Pro-rata basis.
Formula would be some what like this:
Suppose your company gives 20 leaves in a year then
Pro-Rata Leave Calc = (20* ((end date either 31 mar or 31 dec for that year ) - (Date of joining)/365 or 366
I think this clear all your doubts.
From India, Jaipur
You can achieve this.
You need to check for the joining date of the employee(for new joinee) to alot the leave son Pro-rata basis.
Formula would be some what like this:
Suppose your company gives 20 leaves in a year then
Pro-Rata Leave Calc = (20* ((end date either 31 mar or 31 dec for that year ) - (Date of joining)/365 or 366
I think this clear all your doubts.
From India, Jaipur
Hi
Thank you for helping me in providing the formula for calculating leaves on prorata bais. This had removed half of my doubt.
Also please help me by providing "reasoning" whether the leaves have to be calculated according to calender year or financial year.....
Please help me........
From India, Hyderabad
Thank you for helping me in providing the formula for calculating leaves on prorata bais. This had removed half of my doubt.
Also please help me by providing "reasoning" whether the leaves have to be calculated according to calender year or financial year.....
Please help me........
From India, Hyderabad
Hi, That solely depends on your company policies. Well some statuatory leaves are from Jan-Dec and others can be either Apr to Mar or Jan to Dec.
From India, Jaipur
From India, Jaipur
All law pertaining to leave prescribe calculation for a calendar year be it Factories act or Shops and Establishments Act.
Can we do it for Financial Year? it is possible as long as your calculations take away some leave. and as long as the Inspector does not bother you. But I have not faced any problem when I switched over to financial year. But i believe whtether you calculate for Calendar year or financial year, we have no big advantage or disadvantage
Siva
From India, Chennai
367Can we do it for Financial Year? it is possible as long as your calculations take away some leave. and as long as the Inspector does not bother you. But I have not faced any problem when I switched over to financial year. But i believe whtether you calculate for Calendar year or financial year, we have no big advantage or disadvantage
Siva
From India, Chennai
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