Leave & Holiday Policy

What?

The intent of the policy is to enable employees to maintain a healthy work-life balance. It is also the
intent to follow local statutes related to leave and holidays. The purpose of the leave policy is to
inform the employees about the various provisions of the Policy and how to avail them.

Who?

This policy is applicable to all full-time employees of Vikrant Safe Guard India Pvt. Ltd.

Leave and Holiday Overview

Category Days per Description

year

Annual Leave 18 When you want to rest and get away from your
everyday routine
Leave
Casual Leave 12 Attend to your personal tasks and rest well when you
are unwell

Special Leave 1 Take a day off on birthdays or anniversaries for yourself

or your immediate family (spouse and children)

Declared Holidays 10 For you to enjoy the holidays and celebrate festivals
with your family and friends
Holidays
Optional Holidays 2 Choose two optional holidays from the list of identified
regional holidays mentioned in the annual holiday list

Types of Leaves

1. Annual Leave

1.1) Annual leave is accrued on a monthly basis. The employee is entitled to an annual leave of
18 working days in a calendar year. The Annual Leave will be accrued on a prorated basis
based on the joining date. The leave calculation is as follows,
 Monthly leave is calculated as a fraction of the Annual Leave of the calendar year i.e., (18
days/12 months) = 1.5 days

1.2) For a new joinee the Annual Leave will be credited on a prorated basis based on their joining
date
1.3) Un-availed Annual Leaves if any, up to a maximum of 30 days can be carried forwarded to
the next year. Any excess accrued leaves over and above 30 days will get lapsed at the end
of the calendar year i.e. 31st December

2. Casual Leave

2.1) The employee is entitled to Casual leave up to 12 working days in a calendar year. This leave
is for an employee to attend to his/her personal tasks, etc. or during illness.
2.2) If more than two consecutive days of casual leaves are taken for medical reasons, the
employee will have to furnish a medical certificate (and other related documents) from a
registered medical practitioner
2.3) Casual leaves cannot be carried forward to the next year or encashed and the balance
leaves will lapse at the end of the year.

3. Maternity Leave

3.1) Expecting women employees are entitled to 6 months of paid maternity leave. The leave
can be taken starting 3 months before expected date of delivery
3.2) Post return to work women employees can avail flexible working hours for 4 months at full
pay along with continuity on the same job
3.3) New mothers who require additional time off beyond the maternity leave but do not have
enough leave balance may take unpaid leave of absence for up to 12 months and return to
available jobs basis fitment at that point
3.4) Maternity Leave can be availed provided the employee undertakes not to take up alternate
employment and/or engage in any work elsewhere, with or without pay, during this period
3.5) Maternity leave is not encashable under any circumstances. It cannot be accumulated nor
availed in installments
3.6) Maternity leave is restricted to two live births during the service with the company
3.7) In case of miscarriage, a woman employee shall, on the production of such proof as may be
prescribed by a medical practitioner, will be entitled to leave with pay for a period of 6
weeks immediately following the day of her miscarriage

4. Paternity Leave

4.1) Male employees will be eligible for 5 working days of paternity leave. The leave should be
availed within one month of child-birth.

5. Marriage Leave

5.1) Get 5 days of marriage leave, free up your time to plan and enjoy your wedding

6. Declared and Optional Holidays

 6.1) The company shall announce a list of 10 holidays in a year and this list is prepared based on
the mandatory holidays by the central government, state government and other social/
religious considerations
6.2) Employees are eligible to choose two optional holidays from a list of regional holidays
published by the company.
6.3) Employees should refer to company declared holiday list

7. Other Guidelines

7.1) Annual Leaves should be used for all planned breaks and Casual Leaves should be used for
all unplanned breaks
7.2) If more than two consecutive days of Casual Leaves are taken for medical reasons, the
employee will have to furnish a medical certificate from a medical practitioner
7.3) For employees joining on or before the 15th of a month, the leave credit will start in the
same month. Anyone who joins after 15th of the month, the leave credit will start in the
following month and will not be eligible for any leave credit for the month of joining
7.4) No employee shall avail leave in excess of his/her eligibility. However, in extreme exigencies,
the Manager, at his/her discretion may sanction advance leave with pay, up to a maximum
of 5 days, which will be adjusted against his/her leave entitlement to be credited to his/her
account
7.5) Leave without pay up to a maximum of 5 days can be approved by the reporting Manager
and HRBP. Anything above that needs an approval from the skip manager and HRBP. The
HRBP should inform the payroll team as and when a leave without pay has been approved.
Employee should ensure that he/she has all the necessary approvals before proceeding for
leave without pay
7.6) Leave without pay includes weekends and any declared holidays. Employee cannot go for
leave without pay for more than 1 month. If for any reason an employee needs an extended
unpaid time away from work, the applicability and approval will be taken by Director.
7.7) If for any reason an employee’s employment is terminated and he/she has availed of excess
leaves, the same will be recovered in the full and final settlement

General Guidelines

The Head of HR will be responsible for the interpretation of the provisions of the policy. Any
exception to the enforcement of this policy needs to be approved by the Head of HR. This Policy is
subject to change at any given point of time by VSG India The decision of the company shall be final
and binding. Any amendments or additions to this policy would be communicated in writing and
shall form a part of this policy.

Version Created/ Last Policy Created by Reviewed by Approved by

Modified Effective
1.0 07.08.2023 01-09-2023 HR Team Digvijay Avdhesh
Shishodia Shishodia