Hi can some one help me out in formulating a leave policy for my company. currently we are having only 12 leaves per month and i wish to revise this. so kindly suggest me the best. Regards, Shravan
From India, Hyderabad
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From India, Hyderabad
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Hi Shravan,
You can have 12 CLs, 20 Earned Ls, or Privilege leaves and 10-12 medical leaves. Only EL can be encashed, for EL/ML, you can allow accumulation up to 60/90 days. For probationers, 1 CL per month. Maternity leave of 12 weeks shall be as per the labor laws.
In brief, while defining the policy, please ensure you mention leaves limit and accumulations, prefix/suffix with holidays, encashment details, general instructions like allowing/forwarding authority. Half-day leaves, supporting documents in case of medical leave extending beyond 5 days or more, leave without pay, special leaves if any. Study/professional leaves that are up to the management or can be adjusted from the existing leaves.
Further, just type leave rules in Google and you'll get more related info.
Thanks
From India, Faridabad
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You can have 12 CLs, 20 Earned Ls, or Privilege leaves and 10-12 medical leaves. Only EL can be encashed, for EL/ML, you can allow accumulation up to 60/90 days. For probationers, 1 CL per month. Maternity leave of 12 weeks shall be as per the labor laws.
In brief, while defining the policy, please ensure you mention leaves limit and accumulations, prefix/suffix with holidays, encashment details, general instructions like allowing/forwarding authority. Half-day leaves, supporting documents in case of medical leave extending beyond 5 days or more, leave without pay, special leaves if any. Study/professional leaves that are up to the management or can be adjusted from the existing leaves.
Further, just type leave rules in Google and you'll get more related info.
Thanks
From India, Faridabad
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Hi Shravan, Find enclosed one of the sample of Leave Policy, hope it will help to prepare the same at your end.. Regards, Amit Seth.
From India, Ahmadabad
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508From India, Ahmadabad
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yeh amit can u suggest me where can i get the current salary standards for various positions in a mid sized IT companies (strenght of 80)
From India, Hyderabad
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From India, Hyderabad
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Welcome Shravan,
The contents of the salary breakup are as below. You can prepare it according to your own suitability. HRA would be 50% or 60% of the basic.
- Basic
- HRA
- CCA - ₹825/- is exempted from tax
- Other Allowance
- Mobile Reimbursement
- Medical Reimbursement of ₹1250/month is exempted from tax
Gross Per Month = Sum of all the above.
Gross Per Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who is not covered under ESI as the maximum ceiling for ESI is ₹10000/Month. Getting more than this will be covered under Mediclaim or it depends on company policy.
EX-Gratia/Bonus = A fixed amount as a bonus
Annual Fixed Gross Cost= Gross/Annum + Ex-gratia
Annual Total Cost = AFGC + PF + ESIC
Annual total cost is also called CTC.
Apart from this, Food coupons, Holiday package, and Furnishing items are included in their CTC.
Hope this provides some input for your benchmarking to some extent.
Regards,
Amit Seth.
From India, Ahmadabad
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The contents of the salary breakup are as below. You can prepare it according to your own suitability. HRA would be 50% or 60% of the basic.
- Basic
- HRA
- CCA - ₹825/- is exempted from tax
- Other Allowance
- Mobile Reimbursement
- Medical Reimbursement of ₹1250/month is exempted from tax
Gross Per Month = Sum of all the above.
Gross Per Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who is not covered under ESI as the maximum ceiling for ESI is ₹10000/Month. Getting more than this will be covered under Mediclaim or it depends on company policy.
EX-Gratia/Bonus = A fixed amount as a bonus
Annual Fixed Gross Cost= Gross/Annum + Ex-gratia
Annual Total Cost = AFGC + PF + ESIC
Annual total cost is also called CTC.
Apart from this, Food coupons, Holiday package, and Furnishing items are included in their CTC.
Hope this provides some input for your benchmarking to some extent.
Regards,
Amit Seth.
From India, Ahmadabad
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Hiii Shravan!!!!!!!1 I hope this File will Solve ur problem in formulating Leave Policy. Hope u’ll Like it. Akshita :lol:
From India, Chandigarh
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From India, Chandigarh
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Dear Amit, Can you please guide me on leave policies & labour rules in Dubai. reg Rajeshwari
From United Arab Emirates, Dubai
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From United Arab Emirates, Dubai
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Dear Amit Sir,
Please let me know where we can get the updated rates as you have calculated HRA at 50% of 60% of the Basic and the limit of Medical Reimbursement, etc.
Looking forward to your reply.
Regards,
Rahul Tiwari
From India, Ambala
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Please let me know where we can get the updated rates as you have calculated HRA at 50% of 60% of the Basic and the limit of Medical Reimbursement, etc.
Looking forward to your reply.
Regards,
Rahul Tiwari
From India, Ambala
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Dear Rajeshwari,
I am not aware of the policies in Dubai, but I believe the leave policy remains the same in most companies. Regarding labor laws, they vary with the government in place.
Regards,
Amit Seth.
From India, Ahmadabad
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I am not aware of the policies in Dubai, but I believe the leave policy remains the same in most companies. Regarding labor laws, they vary with the government in place.
Regards,
Amit Seth.
From India, Ahmadabad
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Hi Rahul,
Regarding HRA, it differs from company to company. It remains between 30% to 60%, and there is no specific calculation.
Concerning Medical reimbursement, up to INR 1,250 is exempted from tax. Hence, people prefer to keep it at INR 1,250 to avail of this benefit. To receive the credit in your account, you are required to produce the medical bill of the same amount.
Regards,
Amit Seth.
From India, Ahmadabad
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Regarding HRA, it differs from company to company. It remains between 30% to 60%, and there is no specific calculation.
Concerning Medical reimbursement, up to INR 1,250 is exempted from tax. Hence, people prefer to keep it at INR 1,250 to avail of this benefit. To receive the credit in your account, you are required to produce the medical bill of the same amount.
Regards,
Amit Seth.
From India, Ahmadabad
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Hi Shravan,
12 leaves per year, I think so. Generally, leaves would be divided into sick leaves and casual leaves. In casual leaves, a few would be paid leaves which are entitled to be paid at the end of the year if not used.
From India
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12 leaves per year, I think so. Generally, leaves would be divided into sick leaves and casual leaves. In casual leaves, a few would be paid leaves which are entitled to be paid at the end of the year if not used.
From India
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Hi Akshita,
Thank you so much for the file. Thank you, Naveen, for your suggestion. But what I think is, as per the labor law, there must be at least 1 leave per 20 working days. So it comes to 1.5 leaves per month and a minimum of 18 leaves per annum... isn't that sooo?
Shravan
From India, Hyderabad
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Thank you so much for the file. Thank you, Naveen, for your suggestion. But what I think is, as per the labor law, there must be at least 1 leave per 20 working days. So it comes to 1.5 leaves per month and a minimum of 18 leaves per annum... isn't that sooo?
Shravan
From India, Hyderabad
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Employee Benefits.doc
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