part of employment performance

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.