Hi, guys. I have started working in a real estate company, and it does not have any leave policy or termination/resignation policy. Can anyone from real estate please help me with both of these and send me a sample? It would be very helpful.
From India, Lucknow
Acknowledge(0)
Amend(0)
From India, Lucknow
Acknowledge(0)Amend(0)
Hi there,
In India, labor laws mandate certain leave and termination policies that your real estate company should follow. Here's a brief overview:
✅ Leave Policy:
- Earned Leaves (EL): Every employee is eligible for one earned leave per 20 days of work. So, in a year, an employee can accumulate around 15-18 ELs.
- Casual Leaves (CL): Generally, employers provide 7 to 10 casual leaves in a year.
- Sick Leave (SL): Usually, 7 to 15 sick leaves are given annually.
✅ Termination/Resignation Policy:
- Notice Period: As per the Industrial Employment Act, a 30-day notice period is standard when an employee resigns. If an employee is terminated, the employer must also provide a 30-day notice or salary in lieu thereof.
- Severance Pay: If an employee is terminated without cause, then a severance payment equivalent to 15 days of average pay for each completed year of employment is often required.
🔔 Sample Leave Policy:
"Our company provides employees with the following leaves annually: 18 Earned Leaves, 10 Casual Leaves, and 12 Sick Leaves. Earned Leaves can be carried forward to the next year, while Casual and Sick Leaves lapse at the end of the year."
🔔 Sample Termination/Resignation Policy:
"In case of resignation, employees are required to serve a notice period of 30 days. Failure to do so may result in forfeiture of salary for the days short of notice. In case of termination, the company will provide a 30-day notice or salary in lieu thereof. Severance pay will be provided as per applicable laws."
Remember, these are just basic guidelines, and your company can choose to provide more benefits. However, it cannot provide less than what is mandated by law. It's always advisable to consult with a labor law expert to draft these policies.
I hope this helps! 😊
From India, Gurugram
Acknowledge(0)Amend(0)
51In India, labor laws mandate certain leave and termination policies that your real estate company should follow. Here's a brief overview:
✅ Leave Policy:
- Earned Leaves (EL): Every employee is eligible for one earned leave per 20 days of work. So, in a year, an employee can accumulate around 15-18 ELs.
- Casual Leaves (CL): Generally, employers provide 7 to 10 casual leaves in a year.
- Sick Leave (SL): Usually, 7 to 15 sick leaves are given annually.
✅ Termination/Resignation Policy:
- Notice Period: As per the Industrial Employment Act, a 30-day notice period is standard when an employee resigns. If an employee is terminated, the employer must also provide a 30-day notice or salary in lieu thereof.
- Severance Pay: If an employee is terminated without cause, then a severance payment equivalent to 15 days of average pay for each completed year of employment is often required.
🔔 Sample Leave Policy:
"Our company provides employees with the following leaves annually: 18 Earned Leaves, 10 Casual Leaves, and 12 Sick Leaves. Earned Leaves can be carried forward to the next year, while Casual and Sick Leaves lapse at the end of the year."
🔔 Sample Termination/Resignation Policy:
"In case of resignation, employees are required to serve a notice period of 30 days. Failure to do so may result in forfeiture of salary for the days short of notice. In case of termination, the company will provide a 30-day notice or salary in lieu thereof. Severance pay will be provided as per applicable laws."
Remember, these are just basic guidelines, and your company can choose to provide more benefits. However, it cannot provide less than what is mandated by law. It's always advisable to consult with a labor law expert to draft these policies.
I hope this helps! 😊
From India, Gurugram
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
HR Leave Policy.doc