types of leave

32
Topics Types of Leave Encashment of Leave Gratuity EPF PPF

Upload: pr11ms1064

Post on 18-Dec-2014

1.724 views

Category:

Education


2 download

DESCRIPTION

part of employment performance

TRANSCRIPT

Page 1: Types of leave

Topics

Types of Leave Encashment of Leave Gratuity EPF PPF

Page 2: Types of leave

Types of Leave

Page 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`

Types of Leave

Page 4: Types of 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.

Sick Leave

Page 5: Types of 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

Casual Leave

Page 6: Types of 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.

Earned Leave

Page 7: Types of 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.

Maternity Leave

Page 8: Types of leave

5 days with full pay Leave has to be taken within one month of the

birth of the child.

Paternity Leave

Page 9: Types of 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.

Transfer Leave

Page 10: Types of leave

Sanctioned by the Head of the department Leave without pay A specific period of time as agreed between

the HOD and the staff.

Study/Sabbatical Leave

Page 11: Types of leave

Encashment of Leave

Page 12: Types of leave

Which leaves are eligible for encashment

Earned leave Privilege Leave Annual Leave

Encashment is done once a year Superannuation Resignation

Encashment of Leave

Page 13: Types of leave

Basic Salary

____________________________26 x no of days to be en-cashed

Basic Salary /Gross Salary=> varies w.r.t organizations26 => no of working days in a month

Calculation

Page 14: Types of leave

Gratuity

Page 15: Types of leave

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.

Gratuity

Page 16: Types of leave

Monthly Salary x 15days x No. of yrs of service

___________________________________________26

Monthly Salary => Last drawn15 days =>Salary26 days =>Total working days in a month

Max gratuity => Rs. 3,50,000

Calculation of Gratuity

Page 17: Types of leave

Mr. X => Rs. 4256 (last drawn) Period of service => 2001-2006

Gratuity => 4256 x 15 x5 ____________

26=>Rs. 12,276.9

Example

Page 18: Types of leave

Imprisonment => 2 years Fine => Rs. 20,000

Gratuity Penal Provision

Page 19: Types of leave

Employee Provident Fund

Page 20: Types of leave

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

What is EPF?

Page 21: Types of leave

EPF&MP(Miscellaneous Provision Act) 1952

EPF-Employee Provident fund EPS-Employee Pension Scheme EDLI-Employee Deposit Linked Insurance

EPF

Page 22: Types of leave

Scheme Name Employee

contributionEmployercontribution

Employee provident fund

12% 3.67%

Employees’ Pension scheme

0 8.33%

Employees Deposit linked insurance

0 0.5%

EPF Administrative charges

0 1.1%

EDLIS Administrative charges

0 0.01%

Rates in India

12%

Page 23: Types of leave

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/-)

Calculation of EPF

Page 24: Types of leave

The employer is liable to pay contribution only

on 6500/- Whatever is the basic salary

>Ceiling Limit

Page 25: Types of leave

Contribution Towards

Calculation Amount

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 1

Page 26: Types of leave

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 2

Page 27: Types of leave

Contribution Towards

Calculation Amount

EPF Employees share

6500 x 12% 780

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

Page 28: Types of leave

Public Provident Fund

Page 29: Types of leave

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

PPF

Page 30: Types of leave

EPF : 8.5 % per annum PPF : 8% per annum

Return on investment

Page 31: Types of leave

Accumulated sum is repayable after 15 yrs This period can be extend to another 5 yrs.

How long is the money Blocked?

Page 32: Types of leave

Thank you