Dear Naveen,
Mostly there are 3 types of leaves prevailing in the organisations..
1. Privilege leaves/ Paid leaves / Earned leaves - 16
2. Casual leaves - 8
3. Sick leaves - 8
Out of these leaves casual & sick leaves can be availed only during that financial year.. whereas Privilege leaves are carried forward to the next financial year.. and these can be encashed.
In some companies it gets encashed on yearly basis whereas in some companies it gets encashed only at the time of separation from the company...
The details of the same are -
Earned leaves/ Privilege leaves : These are the leaves which are earned in the previous year and enjoyed in the preceding years. These are also known as privilege leave this can be carry forward for the quatum upto the total of three years and vary from state to state as per the shop & establishment act. These are encashable on basic salary to the employee. the condition for taking these leaves usually differ from company to company but normally in advance atleast 15 days. this can be clubbed with sick leave if sick leave is not balance with the employee.
Casual Leave: These leave are granted for certain unforeseen situation or were you are require to go for one or two days leaves. In case of casual leave normally company's strict maximum to 3 days in a month. In these case either the person has to take the permission in advance or has to be regulated on joining. this leave is normally never clubbed with Privilege leave, but it can be clubbed with sick leave if there is is no sick leave balance. Again quantum var from state to state as per shop & establishment act, normally this leave is not encashable or never carried forward. these days to attract people or to reduce absenteeism at the end of the year the balance Casual leave in converted to PL in the leave account.
Sick Leave : These leaves as name defines is for the sick the employee faces. the quantum is as the shop & establishment act at different state. These leave can be carried forward if balance with logic that a person can face sever illness which may require him to take medication and leave during that period which normally recommeded to carry forward upto 45 days or else it get lapse. This accumulation also reduces the absenteeism due to small sickness. If person is sick for more than 3 days normally he is required to attach the medical certificate.
Maternity Leave: It is granted 12 weeks. Sic weeks before the delivery * 6 weeks after the delivery. the Lady has to submit the fitness certificate before resuming on duty.
leave without pay: If person do have any leave to his balance and the situation warrants him to take the leave, the leave is granted by the Company as loss of pay or which may be adjusted against the future leave or as a special case the special paid leave based on the person contribution to the Company at management discretion.
Compensatory off: These leave are granted if the person come on work during the holidays, normally compensated as leave to be taken or as an encashable option.
Some small organisations are also following different rules, as they are not providing any CL or PL, they are just providing 28 EL's and 3 RL's.
Rgds,
Ram Chauhan