leave roles and leave policy

Subject: Human Resource

Management.

Topic: Leave roles and leave policy.

Project Submitted By: Project Submitted To:

Name: Zil Shah Prof.D.I.Cabral

Class: E-MBA

Roll No: 81

INDEX

SSrr..NNoo.. TTooppiiccss PPaaggee NNoo..

1. Acknowledgement 3

2. Synopsis 4

3. Company Profile – Axis Bank 6

4. Introduction 10

5. Objective of Study 15

6. Methodology 16

7. Survey 18

8. Analysis & Findings 20

9. Conclusions & Recommendation 24

10. Bibliography 26

11. Annexure 27

ACKNOWLEDGEMENT

I would like to thank all those who have directly or

indirectly helped me in completing this project

report. I would like to thank Prof.D.I.Cabral for

giving me this project and also for his continuous

guidance which helped me to successfully do the

project.

I would specially like to thank Ms. Esha Shah,

Mr. Anil Devadiga and Ms. Manjri Gautam

from AXIS Bank for their cooperation and

guidance and also Helping me in collecting data

from the employees. I want to extend my sincere

gratitude to the employees who took out time and

answered the questionnaire for this study.

SYNOPSIS

Objective:

Leave is granted to employees with the good

intention of providing rest, recuperation of health

and for fulfilling social obligations.

This project has been undertaken to see if

employees uses their leaves or not.

Which leave is more used by the employee?

Methodology:

Studying the concept of leave and leave policy

among the managers and employees at Axis

Bank.

Preparing a relevant questionnaire to know

policy among the managers and employees at

Axis Bank.

Analysis the answers of the questionnaire and

conclude accordingly.

Analysis & Findings:

Employee feel leave policy at Axis bank fulfil

their needs.

Maximum people prefer to carry forward their

leave to next year rather than utilising it in this

year.

Maximum employee use 1-3 days leave per

month.

Maximum employees don’t utilise all earned/

paid leaves before end of the year.

Maximum employees utilise casual and sick

leave before the year ends.

Conclusion & Recommendations:

Maximum employees don’t utilise all earned/ paid

leaves before end of the year. Maximum

employees utilise casual and sick leave. Maximum

people prefer to carry forward their leave to next

year rather than utilising it in this year. As paid

leaves are encashable as well as can be carried

forward to next year but sick and casual leaves

cannot be carried forward so employee uses casual

and sick leave first.

COMPANY PROFILE

Axis Bank is the third largest private sector bank in

India. Axis Bank offers the entire spectrum of

financial services to customer segments covering

Large and Mid-Corporate, MSME, Agriculture and

Retail Businesses.

The Bank has a large footprint of 2402 domestic

branches (including extension counters) and

12,922 ATMs spread across the country as on 31st

March 2014. The overseas operations of the Bank

are spread over its seven international offices with

branches at Singapore, Hong Kong, Dubai

International Financial Centre, Colombo and

Shanghai and representative offices at Dubai and

Abu Dhabi. During the year, the Bank has

upgraded its representative office in Shanghai,

China to a branch to become the first Indian

private sector bank to set up a branch in China.

During the year, the Bank’s overseas subsidiary

namely Axis Bank UK Ltd. commenced banking

operations.

Axis Bank is one of the first new generation

private sector banks to have begun operations in

1994. The Bank was promoted in 1993, jointly by

Specified Undertaking of Unit Trust of India

(SUUTI), Life Insurance Corporation of India

(LIC), General Insurance Corporation of India

(GIC), National Insurance Company Ltd., The

New India Assurance Company Ltd., The Oriental

Insurance Company Ltd. and United India

Insurance Company Ltd. The shareholding of Unit

Trust of India was subsequently transferred to

SUUTI, an entity established in 2003.

With a balance sheet size of Rs.3,83,245 crores as

on 31st March 2014, Axis Bank has achieved

consistent growth and stable asset quality with a 5

year CAGR (2010-14) of 21% in Total Assets,

19% in Total Deposits, 23% in Total Advances and

28% in Net

PROMOTERS:

Axis Bank Ltd. has been promoted by the largest

Financial Institutions of the country, UTI, LIC,

GIC and its subsidiaries. The Bank was set up in

1993 with a capital of Rs. 115 crore, with UTI

contributing Rs. 100 crore, LIC - Rs. 7.5 crore and

GIC

SUBSIDARIES:

Axis Capital Ltd.

Axis Private Equity Ltd.

Axis Trustee Services Ltd.

Axis Asset Management Company Ltd.

Axis Mutual Fund Trustee Ltd.

Axis Bank UK Ltd.

Axis Securities Ltd.

Axis Finance Ltd.

CAPITAL STRUCTURE:

The Bank has authorized share capital of Rs. 850

crores comprising 850,000,000 equity shares of

Rs.10/- each. As on 31st March 2014, the Bank has

issued, subscribed and paid-up equity capital of Rs.

469.84 crores, constituting 469,844,553 equity

shares of Rs. 10/- each. The Bank’s shares are

listed on the National Stock Exchange and the

Bombay Stock Exchange. The GDRs issued by the

Bank are listed on the London Stock Exchange.

NETWORK:

The Bank has a network of 2402 domestic

branches (including extension counters) and

12,922 ATMs spread across the country as on 31st

March 2014. The overseas operations of the Bank

are spread over its seven international offices with

branches at Singapore, Hong Kong, DIFC (Dubai

International Financial Centre), Colombo and

Shanghai and representative offices at Dubai and

Abu Dhabi. During the year, the Bank’s overseas

subsidiary namely Axis Bank UK Ltd. commenced

banking operations.

PRODUCT & SERVICES:

Bank Account

Deposits

Loans

Cards

Investments

Insurance

Forex

EDGE loyalty rewards

Safe deposit locker

Introduction

An attractive employer-sponsored benefits

program makes it easier for organizations to retain

and attract great employees. According to Job

Satisfaction survey report, employee benefits are

one of the most important job satisfaction factors

for employees. Leave and other employee benefits

are important tools in the retention efforts for the

current and future workforce.

Employment laws set the umbrella framework for

deciding different dimensions of leave, like

category or types, eligibility, duration etc. Many

companies and organizations categorise leaves in

different categories like casual leave, sick leave,

earned leave, maternity leave, special leaves, loss

of pay leave, compensatory leave etc.

In case of employment contacts, where trade

unions are involved in deciding employment

contacts, leave rules are formulated in consultation

with the unions. Such elaborate consultation is

specified in The Industrial Employment Standing

Orders Act which is formed for enforcement of

different conditions of services.

In India, three types of leaves are generally

followed namely earned leave, sick leave and

casual leave. Different provisions exist under

different laws, for different categories of leaves

Types of leaves

Earned Leave or Privilege leave

Earned Leave is provided for planned long

leaves for the purpose of travel, vacation etc

Earned Leave is calculated on a month to month

basis for the calendar year. Earned Leave is

credited in the beginning of Calendar Year to

every employee’s account, but the entitlement

will be proportional to the number of months

worked.

If you have joined during the middle of the year,

your earned leave will be pro-rated from the date

you start employment through December 31 of

that calendar year.

For employees who resign, their leaves

entitlement would be calculated pro rata i.e. till

their last day of work. Any excess leave taken

would be adjusted in Full & Final Settlement.

Accumulated leaves can be encashed at time of

working or leaving the company based on

company’s policy.

Sick Leave/Medical Leave

Sick leave is the leave that an employee can avail

when he is out of work due to illness.

Sick Leave can be taken for minimum 0.5 to

maximum 7 days (paid).

There are no sick leave carry-forwards or

encashment. At the end of calendar year any

available sick leave will lapse automatically.

For all absences exceeding 2 or 3 days,

depending on company policy, usually medical

certificate needs to be enclosed.

Sick Leave can be appended with Earned Leave.

National Holidays and Festival Holidays

Republic Day (January 26), Independence Day

(August 15) and Gandhi Jayanti (October 2) are the

three national holidays observed in India. On these

days all public or private organizations remain

closed. The festival holiday are decided based on

the local festival and are granted to the employees

in accordance with the company policies.

Casual Leave

Casual Leave is granted for certain unforeseen

situation or where you are required to go for one

or two days leaves to attend to personal matters

and not for vacation. In case of casual leave

normally company’s strict maximum to 3 days in

a month. In such cases the person has to take the

permission in advance.

Casual Leave can be taken for minimum 0.5 to

maximum 3 days. In case of more than 3 days

leave, it should be taken as Earned/Privileged

Leave. If taking 3 leaves together Need to apply

before.

Casual leave is not encashable. At the end of the

year unused Casual Leaves lapse automatically.

Cannot be appended with Earned/Privileged

Leave or Sick Leave

Other leaves

Apart from these, there are others paid, unpaid or

half-paid leaves like Study Leave, Bereavement

Leave and Leave for Voting. These although are

left at the organization’s discretion.

Maternity Leave

Maternity Leave is covered by Maternity

Benefits Act, 1961

Female employees are entitled to a maximum of

12 weeks (84 days) paid maternity leave. Six

weeks leave has to be taken after the actual date

of delivery

In case of miscarriage or medical termination of

pregnancy, an employee is entitled to six weeks

of paid maternity leave.

Employees are also entitled to one additional

month of paid leave in case of complications

arising related to pregnancy, delivery, premature

birth, miscarriage, medical termination or a

tubectomy operation (two weeks in this case)

Paternity leave

Paternity leave is paid or unpaid leave given to a

male employee when a child is born.

Individual organizations decide whether or not

they would like to extend the facility of Paternity

Leave.

Objective of Study

Leave is granted to employees with the good

intention of providing rest, recuperation of health

and for fulfilling social obligations.

Stress and continuous working may cause

problem to person that may cause depression. So

leaves are given so person can relax enjoy his

day and come to work fresh and stress free.

Employee working stress free is definitely an

asset for the company/ organisation.

This project has been undertaken to see if

employees uses their leaves or not.

If employee uses their leaves then which leave is

more used by the employee.

How may leave is used by the employee.

LEAVES AT AXIS BANK

Paid leave\ Earned leave - 30 days.

Casual leave - 7 days.

Sick leave - 7 days.

METHODOLOGY

Area of study:

The main objective is to find if employees uses

their leaves or not? .If employee uses their leaves

then which leave is more used by the employee.

How may leave is used by the employee. To find

the objective I opted for leave and leave policy.

Questionnaire was made and survey was conducted

at Axis Bank. Through analysis and then

conclusion was draw.

How was it done:

Following are the steps in which the project was

undertaken:

Define the objective of the study.

Prepare a questionnaire relating to the study.

Visit the Bank.

Conduct a survey in the Bank.

Find out the results.

Conclude the project by giving suggestions on

the basis of outcomes.

The questionnaire method was used for this

study as it is much better and easy to find out the

responses of the people through questionnaire

method. It also gives the exact information that one

looks for and also provides accurate results. With

the help of questionnaire and statistical

representation of the study it helps in

understanding the data in a more logical and better

manner.

SURVEY

Project questionnaire

1. Years of Service

□ Less than 1 year

□ Upto 1-2 year

□ Upto 2-5 year

□ More than 5 years

2. I feel axis leaves policy are able to meet my

needs?

□ Yes

□ No

3. My Manger approves my leaves request

easily?

□ Yes

□ No

4. How far you are satisfied with the flexible

leave provided by the organization? □ Strongly Agree

□ Agree

□ Neutral

□ Disagree

□ Strongly Disagree

5. I prefer to utilize all leaves rather than carry

forward to next year?

□ Strongly Agree

□ Agree

□ Neutral

□ Disagree

□ Strongly Disagree

6. I utilize __ number of leaves per month.

□ zero

□ one - three

□ three - five

□ more than five

□ not fixed

7. I utilize all earned/ paid leaves before end of

the year.

□ Yes

□ No

8. I utilize all casual leaves before end of the

year.

□ Yes

□ No

9. I utilize all sick leaves before end of the year.

□ Yes

□ No

DATA ANALYSIS

Question

no. A B C D E

1 3 5 4 3

2 15 0

3 9 6

4 4 3 6 2 0

5 2 2 3 1 7

6 1 8 3 1 2

7 5 10

8 11 4

9 13 2

Graphical Representation

My Manger approves my leaves request easily?

I prefer to utilize all leaves rather than carry

forward to next year?

LEAVE REQUEST

YES

NO

0

1

2

3

4

5

6

7

STRONGLYAGREE

AGREE NETURAL DISAGREE STRONGLYDISAGREE

CARRY FORWARD NEXT YEAR

I utilize __ number of leaves per month.

I utilize all earned/ paid, casual and sick leaves

before end of the year.

NUMBER OF LEAVE UTILISED

ZERO

ONE- THREE

THREE-FIVE

MORE THAN FIVE

NOT FIXED

0

2

4

6

8

10

12

14

16

PAID CASUAL SICK

NO

YES

FINDINGS

Employee feel leave policy at Axis bank fulfil

their needs.

Some employee leave application is not easily

accepted by the HR manager.

Maximum people prefer to carry forward their

leave to next year rather than utilising it in this

year.

Few employees don’t take leave till there is

emergency.

Maximum employee use 1-3 days leave per

month.

Maximum employees don’t utilise all earned/

paid leaves before end of the year.

Maximum employees utilise casual and sick

leave.

CONCLUSION Money is certainly important but as a personal driver.

You earn money for existence or you are striving for

a house or a holiday but beyond that money is not a

motivator for majority of people.

Time is more valuable than money. You can get

more money, but you cannot get more time. With or

without money, many people agree that being

rewarded with given time away from their jobs to do what they love is a major motivation.

Employees feel leave policy at Axis bank fulfil

their needs and that also motivate the employees.

Some employee leave application is not easily

accepted by the HR manager as those employees

are very valuable for the organisation.

Few employees don’t take leave till there is

emergency. Maximum employee uses 1-3 days

leave per month. People who uses 3-5 days leave

are the one who uses all leave in a year.

Maximum employees don’t utilise all earned/ paid

leaves before end of the year. Maximum

employees utilise casual and sick leave. Maximum

people prefer to carry forward their leave to next

year rather than utilising it in this year. As paid

leaves are encashable as well as can be carried

forward to next year but sick and casual leaves

cannot be carried forward so employee uses casual

and sick leave first.

RECOMMENDATION

Leave policies are good and that are beneficial

for employee engagement.

Every employee wants to spend time with

family, relatives and friends so organisation

should take care of it.

Over time work should be compensated.

If employee is stress free it’s good for the

organisation as he can work more efficiently and

in better manner.

BIBLOGRAPHY

Class Notes by Prof. D.I.Cabral

http://www.bemoneyaware.com/blog/casual-

leave-earned-leave-sick-leave-leaves-in-india/

http://www.telegraph.co.uk/news/worldnews/asi

a/japan/11333843/Japan-announces-new-laws-

to-force-workers-to-go-on-holiday.html

www.axisbank.com

http://www.nzherald.co.nz/business/news/article.

cfm?c_id=3&objectid=11415604

http://www.paycheck.in/main/labour-law-

india/leave-and-holidays/leave-policy

ANNEXURE – I

15 Sample Questionnaire Copies.

Visiting card.

ANNEXURE - II

Japan has announced new laws to force

workers to go on holiday.

Japanese workers are so reluctant to leave their

offices that they took less than half their holiday

entitlement in 2013. The government now wants to

raise that total to 70 per cent by 2020, according to

the Yomiuri newspaper.

In an uncertain economy, Japanese companies are

demanding more of their staff. Many younger

workers are expected to put in as many as 100

hours of overtime a month.

But almost two-thirds of workers were also

unwilling to take their allotted holidays because “it

would inconvenience their colleagues”, according

to a study by the Japan Institute for Labour Policy

Training. More than half of them also said they

simply had no time for holidays because of their

heavy workload.

Workers said that anyone taking time off in such a

stagnant economy risked being perceived as

lacking commitment. As a result, Japan’s curse of

“karoshi”, or death by overwork, has spread from

older, senior employees, to younger staff.

At present, employees are entitled to a minimum of

10 days paid leave annually, with the figure

increasing one day for every year that they work to

a maximum of 20 days a year.

And while the Labour Standards Law requires

firms to grant paid holidays, the assumption is that

employees request that leave. If they fail to do so,

the company is not violating the law.

Under the revised law, which is to be discussed in

the Diet when it reconvenes in late January,

companies will be required to ensure that their

employees take time off.

The government said the revisions are designed to

prevent overwork and to enable employees to have

an appropriate “work-life balance”.

Vodafone launches new maternity policy

Vodafone has launched a new maternity policy

allowing its employees expecting children a

month's extra leave.

Under the policy, primary caregivers employed by

Vodafone and who return to work for the company

within 12 months of the child being born will

receive full pay for a 30-hour week for the first six

months.

The policy change will give new parents an extra

day at home each week during the critical

development stages of a child's life as a result,

Vodafone CEO Russell Stanners said.

Expectant mothers will also be offered 16 weeks

pro-rata paid leave, through an initiative that tops

up the government's Paid Parental Leave to full

pay, he said.

The move coincides with the increase in Paid

Parental Leave being introduced by the

government on 1 April, 2015, which is also when

Vodafone's new policy comes in to effect.

Prior to 1 April, Vodafone offered 12 weeks full or

pro-rata paid leave to top up the Government

maternity leave scheme.

"Family is important to us and we're always

looking for ways to make things easier for our

mums and caregivers," Stanners said.

"Through our new policy, we estimate a working

parent could save around $1800 in childcare in

their first six months back and be able to spend an

additional 240 hours with their child," he said.

The policy change was aimed at attracting and

retain talented women.

Currently, 37 per cent of Vodafone employees in

New Zealand were female, and women make up 38

per cent the company's senior leadership team.

"We believe this new maternity policy will play an

important role in helping to increase those figures,"

Stanners said.

- NZ Herald

leave roles and leave policy

Recruiting & HR

sick leave

maximum employees dont

year ends

casual leaves

maximum people

largest private sector

indian private sector

paid leaves