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?
LEAVEREQUEST
YES
NO
0
1
2
3
4
5
6
7
STRONGLY
AGREE
AGREE NETURAL DISAGREE STRONGLY
DISAGREE
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.
NUMBEROF 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

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