LEAVE POLICY

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 Leave Policy
I. Preamble:

The objective of this policy is to provide uniform guidelines by which employees are permitted to take time off
from work through an approval process.

II. Purpose:

The leave policy is designed to maintain work life balance and comply with statutory requirements.

III. Scope:

This policy is applicable to all on roll employees of Bajaj Auto Finance Ltd. (CF- Division)

IV. Definitions:
st st
1. Leave Year: 1 January to 31 December.

2. Earned Leaves: All employees are eligible for 24 days Earned Leave per annum @ 2 leaves per month. These
leaves will be credited at the end of each month. The balance unutilized leaves /ELs will be paid up every year
with January payroll. These leaves are non accumulative

3. Casual cum Sick Leaves: All employees are eligible for 12 days Casual cum Sick Leave per annum. These leaves
will be credited to an individual account at the beginning of the year / time of joining (pro-rated from the date
of joining). These leaves are non en-cashable & non accumulative.

4. Intervening Holiday: Only working days will be treated as Leaves. Intervening Holidays or weekly off in
between leaves would not be considered as leaves.

5. Mandatory Leaves: Every employee in Level 1, Level 2 & Level 3 has to take 7 days of continuous leaves once
a year out of total leaves. These leaves are mandatory for employees to avail.

6. Joining & Transfer Joining Leave: Leave which a newly joined employee or a transferred employee can avail
at the time of joining our organization or joining at new location. Max 3 days of pre- sanctioned leave can be
taken within 15 days of joining or effective date of transfer for settling down purpose.

7. Unauthorized Leave: If an employee remains absent without any intimation and valid justification or overstays
the period of leave originally granted, his/ her absence will be treated as ‘unauthorized leave’. Employee will
not be entitled for any salary for this period and can be treated as ‘indiscipline’

8. Compensatory Off: All Employees in Level 5 are entitled for compensatory off in case of full day working on
weekly off/ holiday with prior permission and approval from respective Manager in advance. Such
compensatory off will have to be availed within seven days from the date of extra work done beyond which it
will lapse automatically.

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 9. Maternity Leave:

a) Every woman employee shall be entitled for maternity leave to maximum of twelve weeks of which
more than six weeks shall not precede the date of her expected delivery. Any deviation to this, need
to be certified by a registered gynecologist.

b) For availing the maternity leave the woman employee has to work in the organization for a period of
not less then eighty days in the twelve months immediately preceding the date of her expected
delivery.

c) The woman employee needs to give a notice of six weeks before proceeding on maternity leave.

d) In case of miscarriage woman employees is entitled for miscarriage Leave of 6 weeks from the date of
miscarriage. The application for the miscarriage Leave should be supported with a copy of Medical
Certificate issued by the Registered Gynecologist.

10. Leave during Notice Period: Employees are not entitled for any leave during the Notice Period. Any
unauthorized absence during the notice period will be treated as shortfall of the notice period and employee
will have to pay compensation for such a shortfall. It’s is sole discretion of the Business Head and HR to adjust
all accumulated leaves against the notice period. Incase if the employees has taken advance leaves, same will
be recovered from his/her full and final settlement.

V. Procedure for Applying for Leave:

1. In case of planned leave each employee has to apply for leave atleast 7 days in advance in ESS.

2. In the event of an unplanned requirement ( eg: illness/ personal emergency), the reporting manager must be
notified of the absence latest by half an hour after the commencement of the work. It is the employee’s
responsibility to apply the availed leave in ESS within 1 day of return. It has to be thereafter approved by the
reporting manager.

VI. General Rules:

1. Leave request should be made in advance. However, when it is not possible to apply for leave in advance,
simultaneous information of the absence together with the reason and probable period of absence, duly
supported by evidence, wherever practicable should be given to leave sanctioning authority.

2. An employee who desires to extend his leave will make an application in writing to his Manager, well before
the expiry of the leave already sanctioned. The employee needs to provide satisfactory supporting documents
within three working days after he resumes duty.

3. An employee who remains absent after expiry of the period of leave originally sanctioned, or subsequently
extended, will be treated as having committed an act of misconduct and will be liable to disciplinary action
unless he is able to explain his overstay in a satisfactory manner acceptable to the Management. Incase the
employee fails to report for duty within 10 days after expiry of the leave originally sanctioned or subsequently
extended he will be treated as having deserted the job and shall be liable to lose his lien on his appointment.

4. If an employee who has been granted leave desires to cancel a portion of his leave and resumes duty, he will
be allowed to do so with proper communication to his Manger for proper updation of records.

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VII. Leave Matrix

Number of Accumulated up
Leaves per to maximum no Sanctioning
Types of leave annum Eligibility of days Encashment Authority

Unutilized leaves
24 days, per will be paid up in Reporting
Earned Leave annum. All Employees 0 January payroll Manager

Casual cum Sick 12 days, per Reporting

Leave annum. All Employees 0 Not en-cashable Manager

All female
Maternity Leave 12 weeks. Employees 0 Not en-cashable BH and Chief-HR

As per the extra Reporting

Compensatory Off work done. L5 0 Not en-cashable Manager

Approval from BH
Leave without pay Not Specified All Employees 0 Not en-cashable and Chief HR.

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