Is leaves carry forward during company acquisition? Company name changed

When one company is acquired by another company, and transition is completed. Subsequently, new company name is registered as per the company act. Then, the query is, Employees leaves would be carry forward to new company or it will be started from beginning closing old records.
Is employee contract to be issued on new company name or not required?

In case of take over or transfer of an existing company by or to another with employees, the services of the employees rendered in the earlier entity would continue.