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   Types of Leave
   Encashment of Leave
   Gratuity
   EPF
   PPF
Types of leave
Types of Leave
                
 Sick leave                 : 12 days
 Casual Leave               : 12days
 Earned Leave/PL            : 15 days
 Sectional/National Leave   : 12 days
 Maternity Leave            : 135 days
 Paternity Leave            : 15 days
 Transfer Leave             : 3 days
 Study/Sabbatical Leave`
Sick Leave
                    
 Max 12 days
 Considered for 2 days
 Beyond 2 days, furnish medical certificate.
 Un availed SL, carry forward to next year.
 Max. accumulation of SL is 30days
 Cannot be clubbed with any other leave.
Casual Leave
                
 Maximum 12 days
 Only two days at a stretch will be granted
 Can be prefixed/suffixed with weekly off
 Not with PL/SL
 Unauthorized absence
 If holiday falls between CL=> Earned leave
Earned Leave
                 
 Leave entitlement =>30 working days
 Each completed year of service
 After 12 months of service.
 Can accumulated up to 60 days.
 Cannot avail more than 3 times a year.
Maternity Leave
               
 3 calendar months
 Full pay granted
 Post-natal complications ,the approval of the Head of
  the Department is required.
   3 months on half pay
   Beyond 3 months , no pay.
Paternity Leave
                
 5 days with full pay
 Leave has to be taken within one month of the birth
  of the child.
Transfer Leave
                 
 Availed at one stretch
 Within three months of transfer
 It can neither be accumulated nor carried forward
 Travel time from point to point is not a part of this
  leave.
Study/Sabbatical Leave
         
 Sanctioned by the Head of the department
 Leave without pay
 A specific period of time as agreed between the HOD
  and the staff.
Types of leave
Encashment of Leave
          
 Which leaves are eligible for encashment
   Earned leave
   Privilege Leave
   Annual Leave
 Encashment is done once a year
   Superannuation
   Resignation
Calculation
                   
                      Basic Salary
            ____________________________
            26 x no of days to be en-cashed

Basic Salary /Gross Salary=> varies w.r.t organizations
26     => no of working days in a month
Types of leave
Gratuity
                       
 Money given in return for service.
 Payment of Gratuity Act,1972
 Eligibility:
    Any person employed on wage/salary
    more than 5 years of continuous service.
 In case of death
    Payable
    Even if 5 years are not complete.
Calculation of Gratuity
           
    Monthly Salary x 15days x No. of yrs of service
    ___________________________________________
                         26
Monthly Salary     => Last drawn
15 days            =>Salary
26 days            =>Total working days in a month

Max gratuity       => Rs. 3,50,000
Example
                    
 Mr. X             => Rs. 4256 (last drawn)
 Period of service => 2001-2006

 Gratuity          => 4256 x 15 x5
                      ____________
                          26
                    =>Rs. 12,276.9
Gratuity Penal Provision
           
 Imprisonment   => 2 years
 Fine           => Rs. 20,000
Types of leave
What is EPF?
                
 PF is a long term investment
 Low risk investment area
 Backed by the government
 Each month a certain percentage of your salary is
  invested.
 % varies from company to company.
 Between 8% and 12%
 Retirement benefit scheme
EPF
                      
 EPF&MP(Miscellaneous Provision Act) 1952
   EPF-Employee Provident fund
   EPS-Employee Pension Scheme
   EDLI-Employee Deposit Linked Insurance
Rates in India
                     
Scheme Name            Employee contribution Employer
                                             contribution
Employee provident             12%                     3.67%
fund                                                           12%
Employees’ Pension               0                    8.33%
scheme
Employees Deposit                0                     0.5%
linked insurance
EPF Administrative               0                     1.1%
charges
EDLIS Administrative             0                    0.01%
charges
Calculation of EPF
                
Contribution Towards Calculation     Amount

EPF Employees share   3500 x 12%     420

EPS Employer share    3500 x 8.33%   292

EPF employer share    3500 x 3.67%   128

EDLI charges          3500 x 0.5%    18

EPF Admin charges     3500 x 1.1%    39

EDLI Admin charges    3500 x 0.01%   0.35 ( round up to Rs 1/-
                                     )
>Ceiling Limit
                 
 The employer is liable to pay contribution only on
  6500/- Whatever is the basic salary
Method 1
                       
Contribution        Calculation           Amount
Towards
EPF Employees share 7500 x 12%            900

EPS Employer share   6500 x 8.33%         541

EPF employer share   7500 x 12% (-) 541   359

EDLI charges         6500 x 0.5%          32.5

EPF Admin charges    6500 x 1.1%          71.5

EDLI Admin charges 6500 x 0.01%           0.65 ( Round up to Rs
                                          1/-)
Method 2
                   
Contribution Towards Calculation    Amount

EPF Employees share 7500 x 12%      900

EPS Employer share   6500 x 8.33%   541

EPF employer share   6500 x 3.67%   239

EDLI charges         6500 x 0.5%    33

EPF Admin charges    6500 x 1.1%    72

EDLI Admin charges 6500 x 0.01%     0.65 ( Round up to Rs
                                    1/-)
Method 3
Contribution
                    
                  Calculation     Amount
Towards
EPF Employees     6500 x 12%      780
share
EPS Employer share6500 x 8.33%    541

EPF employer share 6500 x 3.67%   239

EDLI charges       6500 x 0.5%    33

EPF Admin charges 6500 x 1.1%     72

EDLI Admin         6500 x 0.01%   0.65 ( Round up to Rs
charges                           1/-)
Types of leave
PPF
                         
 Established by the central government
 Voluntary decision to open an account
 Need not be salaried individual
 Minimum deposit every year is Rs.500
 Account can be opened in
   Nationalized bank
   Head post office
   Or Selected post offices
Return on investment
           
 EPF   : 8.5 % per annum
 PPF   : 8% per annum
How long is the money
       Blocked?
          
 Accumulated sum is repayable after 15 yrs
 This period can be extend to another 5 yrs.
Types of leave

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Types of leave

  • 1. Types of Leave  Encashment of Leave  Gratuity  EPF  PPF
  • 3. Types of Leave   Sick leave : 12 days  Casual Leave : 12days  Earned Leave/PL : 15 days  Sectional/National Leave : 12 days  Maternity Leave : 135 days  Paternity Leave : 15 days  Transfer Leave : 3 days  Study/Sabbatical Leave`
  • 4. Sick Leave   Max 12 days  Considered for 2 days  Beyond 2 days, furnish medical certificate.  Un availed SL, carry forward to next year.  Max. accumulation of SL is 30days  Cannot be clubbed with any other leave.
  • 5. Casual Leave   Maximum 12 days  Only two days at a stretch will be granted  Can be prefixed/suffixed with weekly off  Not with PL/SL  Unauthorized absence  If holiday falls between CL=> Earned leave
  • 6. Earned Leave   Leave entitlement =>30 working days  Each completed year of service  After 12 months of service.  Can accumulated up to 60 days.  Cannot avail more than 3 times a year.
  • 7. Maternity Leave   3 calendar months  Full pay granted  Post-natal complications ,the approval of the Head of the Department is required.  3 months on half pay  Beyond 3 months , no pay.
  • 8. Paternity Leave   5 days with full pay  Leave has to be taken within one month of the birth of the child.
  • 9. Transfer Leave   Availed at one stretch  Within three months of transfer  It can neither be accumulated nor carried forward  Travel time from point to point is not a part of this leave.
  • 10. Study/Sabbatical Leave   Sanctioned by the Head of the department  Leave without pay  A specific period of time as agreed between the HOD and the staff.
  • 12. Encashment of Leave   Which leaves are eligible for encashment  Earned leave  Privilege Leave  Annual Leave  Encashment is done once a year  Superannuation  Resignation
  • 13. Calculation  Basic Salary ____________________________ 26 x no of days to be en-cashed Basic Salary /Gross Salary=> varies w.r.t organizations 26 => no of working days in a month
  • 15. Gratuity   Money given in return for service.  Payment of Gratuity Act,1972  Eligibility:  Any person employed on wage/salary  more than 5 years of continuous service.  In case of death  Payable  Even if 5 years are not complete.
  • 16. Calculation of Gratuity  Monthly Salary x 15days x No. of yrs of service ___________________________________________ 26 Monthly Salary => Last drawn 15 days =>Salary 26 days =>Total working days in a month Max gratuity => Rs. 3,50,000
  • 17. Example   Mr. X => Rs. 4256 (last drawn)  Period of service => 2001-2006  Gratuity => 4256 x 15 x5 ____________ 26 =>Rs. 12,276.9
  • 18. Gratuity Penal Provision   Imprisonment => 2 years  Fine => Rs. 20,000
  • 20. What is EPF?   PF is a long term investment  Low risk investment area  Backed by the government  Each month a certain percentage of your salary is invested.  % varies from company to company.  Between 8% and 12%  Retirement benefit scheme
  • 21. EPF   EPF&MP(Miscellaneous Provision Act) 1952  EPF-Employee Provident fund  EPS-Employee Pension Scheme  EDLI-Employee Deposit Linked Insurance
  • 22. Rates in India  Scheme Name Employee contribution Employer contribution Employee provident 12% 3.67% fund 12% Employees’ Pension 0 8.33% scheme Employees Deposit 0 0.5% linked insurance EPF Administrative 0 1.1% charges EDLIS Administrative 0 0.01% charges
  • 23. Calculation of EPF  Contribution Towards Calculation Amount EPF Employees share 3500 x 12% 420 EPS Employer share 3500 x 8.33% 292 EPF employer share 3500 x 3.67% 128 EDLI charges 3500 x 0.5% 18 EPF Admin charges 3500 x 1.1% 39 EDLI Admin charges 3500 x 0.01% 0.35 ( round up to Rs 1/- )
  • 24. >Ceiling Limit   The employer is liable to pay contribution only on 6500/- Whatever is the basic salary
  • 25. Method 1  Contribution Calculation Amount Towards EPF Employees share 7500 x 12% 900 EPS Employer share 6500 x 8.33% 541 EPF employer share 7500 x 12% (-) 541 359 EDLI charges 6500 x 0.5% 32.5 EPF Admin charges 6500 x 1.1% 71.5 EDLI Admin charges 6500 x 0.01% 0.65 ( Round up to Rs 1/-)
  • 26. Method 2  Contribution Towards Calculation Amount EPF Employees share 7500 x 12% 900 EPS Employer share 6500 x 8.33% 541 EPF employer share 6500 x 3.67% 239 EDLI charges 6500 x 0.5% 33 EPF Admin charges 6500 x 1.1% 72 EDLI Admin charges 6500 x 0.01% 0.65 ( Round up to Rs 1/-)
  • 27. Method 3 Contribution  Calculation Amount Towards EPF Employees 6500 x 12% 780 share EPS Employer share6500 x 8.33% 541 EPF employer share 6500 x 3.67% 239 EDLI charges 6500 x 0.5% 33 EPF Admin charges 6500 x 1.1% 72 EDLI Admin 6500 x 0.01% 0.65 ( Round up to Rs charges 1/-)
  • 29. PPF   Established by the central government  Voluntary decision to open an account  Need not be salaried individual  Minimum deposit every year is Rs.500  Account can be opened in  Nationalized bank  Head post office  Or Selected post offices
  • 30. Return on investment   EPF : 8.5 % per annum  PPF : 8% per annum
  • 31. How long is the money Blocked?   Accumulated sum is repayable after 15 yrs  This period can be extend to another 5 yrs.