Dear Monica,
I can share what I have implmented in my company which is a mid sized organisation.
Privilege leave entitlement is 15 working days.
Calendar year is the basis for Privilege leave.
Holidays and weekends falling in between the leave period is excluded while computing the total number of days taken as leave.
The leave will be credited in advance on 1st January of every Year.
In the case of those who are joining in the middle of the year the same will be calculated on a prorata basis.
The maximum leave you can carry forward from the previous year is 15 days.
The employees can carry forward any leave balances that they have in one year on to the next year. However, the total of leave being carried forward cannot exceed 15 days. Thus, the employee cannot have more than 30 days leave accumulated against his name at any given time (15 days for that year and 15 days leave carried forward).
The minimum unit for the utilization of privilege leave is half a day.
PL in excess of 2 days must be planned at least 7 days in advance.
Privilege leave will not normally be granted during the notice period, when an employee resigns from the service of the company.
PL taken beyond the entitlement will be considered as loss of pay (LOP).
Encashment-
The leave balance of the previous years can be encashed in the month of January.
In the case of the total number of leave exceeding 30 days for any employee, all the leave over and above 30 days will be encashed by default.
Basic salary will be the basis of Encashment.
PL cannot be clubbed with any other form of leave.
You can formulate your companies leave policy accodingly.
Cheers
Alexy Kuriakose
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