Privilege leave is also known as earned leave meaning that the company will pay a salary while the employee is on leave. These leaves are available to every employee in the organization and these leaves can only be availed if the department head sanctions these leaves.
In every financial year,the employee is credited with the earned leaves. Privilege leaves can be calculated on a maximum of 18 days per year i.e. on a monthly basis employee will be credited with 1.5 earned leaves.
To apply for earned leave employee must intimate the authority at least of 14 days in advance. PLs can be taken a minimum of 3 days to 18 days. But the excess of PL take might lead to loss of pay. Earned leaves can be taken only two times in a year. If the employee doesn’t desire to take leaves the leaves can be Encashed, and this process is called leave encashment.
Public holiday and Saturday off and Sunday off are not counted as earned leaves but if the public holidays and weekly offs falling within the earned leaves will be inclusive of privilege leaves. Leave encashment is possible after the span of 3 months and it is calculated as total PLs in a year divided by PLs to be Encashed
Generally, leave policy in corporate starts from 1st January to 31st December and leave in a company are separated as casual leave and privilege leave.
Casual leaves differ from earned leaves, casual leaves are to be informed before the one day in advance and PLs are to be informed prior to the 14 days in advance and casual leaves can take a half day to two days consecutively
As mentioned above PLs are taken a minimum of 3 days to 18 days and just for the information, the privilege leaves 18 days in days and calculated leaves are sanctioned 14 days in a year. Both leaves can be the suffix or prefix with holidays and weekly offs.
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