Looks like your Company is an established one....so obviously you would ALREADY be having some Policies reg Increments/Appraisals. Pl mention the current practices/policies.....the members would be able to give better suggestions then, based on ground realities.
As regards standard rates of Attrition / Absenteeism, pl explain the EXACT situation you are facing. Pl note that it won't help you by knowing the standard rates.....what you need to know are the causes for such situations & they vary from Company to Company, even though belonging to the same sector.
W.r.t. your query "how much weitage to be give on If employee having degree in Full Time Course and another employee having degree through distance learning", pl note that there is usually such a difference ONLY during joining. Later, performance takes-over for any salary hikes. After a couple of years, for all you know, the Full-time Degree holder COULD be drawing less than the Distance-learning degree holder.
Coming to the quantum, it varies between geographical locations--since local factors dictate such issues. What's the current difference in vogue in your Company? That would enable the members located in your State to make actionable suggestions.
23rd November 2015 From India, Hyderabad