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Leave & Holiday Policy

What is Leave & Holiday Policy?

At IndiaLends, we believe, Happy, Healthy & Fit people perform their best at work too. People need time
off from work to maintain a healthy work-life balance, indulge in their hobbies, take rest for recuperation
of health and/or for fulfilling their social & personal obligations. The intent of this policy is to enable all
IndiaLends employees to understand policy, standards and guidelines for taking any time off from work.

Who all are covered?

This policy is applicable to all employees of IndiaLends in Non-Operations functions

What Do You Get? - Leave & Holiday Entitlement Overview

For All employees -

Category Leave Type Days Per Year Description

24 – After Provides an employee with the opportunity to

completion of 1 rest and get away from the everyday routine,
year tenure attend to his/her unplanned personal
Leave Earned Leave
emergencies, tasks, etc.
21 – 1st year of
tenure During Probation: 1 Leave per month
(0.5 in first month when DOJ >15th
of a month)
Post Probation: 2 Leaves per month
Holiday Fixed Holidays 10 To celebrate events of national, social and
religious significance

Holiday Restricted Holidays 2/1 Any two holiday(s) from a list of options that
align with social or religious significance
For employees who join after 30th June of a
calendar year: 1 Restricted Holiday shall be
allowed in the remainder of the year.

For Confirmed Employees -

To celebrate birthday or anniversary for self or

Leave Special Leave 1
immediate family (spouse and children)

Provides an employee support during time of

hospitalization or to recuperate from major
Leave Medical Leave 14 illness/surgery wherein a registered medical
practitioner advises rest. This does not cover
minor illnesses or sickness.

Only for male employees. Within 3 months of

Leave Paternity Leave 6
child-birth for upto 2 children

Leave Maternity Leave 26 Weeks Only for female employees

(*for more details please refer to Maternity
Benefits Policy)

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Provides an employee the opportunity to take

Leave Marriage Leave 6
time off for their own marriage

Provides employees that complete tenure

Leave Tenure Leave 1/3/5/10
milestones in IndiaLends with extra leaves

Leave Guidelines

1. Earned Leave
i. Earned Leave is accrued on a monthly basis. The employee is entitled to an Earned Leave
of 24 working days in a calendar year or two days for every month. The Earned Leave will
be accrued on a prorated basis based on the joining date. During probation period, an
employee is entitled to 1 leave per month and overall 21 days in first year of
employment.
ii. The Earned Leave balance at the end of calendar year shall be carried forward to next
year upto a maximum of 40 days. Any excess leaves above 40 shall lapse at the end of
calendar year.
iii. Earned Leaves should be planned, discussed and approved by Reporting Manager at least
two weeks in advance.
iv. In case an employee is not able to plan and get approval in advance due to sudden
emergency or sickness, it is mandatory that he/she calls up his/her Manager immediately
at the beginning of such leave. Failure to inform the manager in this case can be treated
as Unauthorized absence and shall lead to Loss of Pay for the duration of such absence in
addition to being subjected to disciplinary action for unapproved absence

2. Holidays – Fixed & Restricted

i. The company shall announce a list of holidays in a year (Annexure I attached). This list is
prepared based on the mandatory holidays by the central government, state government
and other social/ religious considerations.
ii. For the year 2020, all employees are eligible for 10 Fixed Holidays & 2 Restricted
Holidays(List provided in Annexure 1 below). Employees that join after 30th June
2020 shall be eligible for only 1 Restricted Holiday
iii. The list of holidays for the following year shall be circulated by the HR Team during the
month of December.
iv. Employees, who are officially required to work on any of the declared fixed holidays, will
be eligible to avail a Compensatory off in lieu thereof. Such Compensatory offs can be
allotted by the reporting Manager and need to follow the process outlined for
compensatory off.
v. The employee can choose any 2 holidays as per their discretion from the list of Restricted
Holidays (List provided in Annexure 1 below)
vi. All Restricted Holidays must be pre-discussed with and duly approved by Reporting
Manager at least 30 days before taking such Holiday.
vii. All Restricted Holidays need to be applied through HRMS.
viii. All unavailed Restricted Holidays shall lapse at the end of the year.

3. Special Leave
i. An employee can avail a leave for celebrating special occasions like birthday or
anniversary for himself/herself or for immediate family including spouse or children
ii. Only one leave can be availed as special leave in a calendar year
iii. Unavailed special leave shall lapse at the end of the year
iv. No accumulation or encashment of this leave is permissible.

4. Medical Leave
i. The employee is entitled to Medical Leave of up to 14 days in a calendar year. This leave
is granted for an employee during hospitalization, major illness, recuperation of health
from such illness or planned medical procedures or hospitalization.
ii. Medical Leaves cannot be carried forward to the next year or encashed. The balance
Medical Leaves will lapse at the end of the calendar year.
iii. This leave will lapse and will not be paid if employee exits/quits company during the course
of the year.
iv. In case an employee needs a Medical Leave due to unforeseen illness, the employee must
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inform the Reporting Manager and the team through email or call within 1 hour of
commencement of said day of leave. The same is subject to production of relevant
documents within 2 days of starting such leave or re-joining office, whichever is earlier.
v. The employee needs to furnish a medical certificate (and other related documents) from a
registered medical practitioner to HR for availing Medical Leave.
vi. This leave can only be applied by HR and is subject to Business Head & HR approval.

5. Paternity Leave
i. Paternity Leave is designed to help the male employee take time off from work during the
post-natal stage of his new-born.
ii. Male employees will be eligible for 6 working days of Paternity Leave. The leave should be
availed within three months of the child-birth.
iii. No accumulation or encashment of this leave is permissible.
iv. This leave can only be applied by HR and is subject to Business Head & HR approval.
v. Paternity Leave is a applicable only for the two instances of child-birth

6. Marriage Leave
i. An employee can avail upto 6 days leave for their own marriage once during their tenure
in IndiaLends.
ii. No accumulation or encashment of this leave is permissible.
iii. Marriage leave can only be applied by HR and is subject to Business head & HR approval

7. Tenure Leave
i. Employees who complete 1, 3, 5 or 10 years of service with IndiaLends will be eligible
for tenure leave as outlined below:

Tenure Completed in IndiaLends No. of Leaves

1 Year 1 working day

3 Years 3 working days

5 Years 5 working days

10 Years 10 working days

ii. The employee should avail this leave within one year from the time of completion of the
tenure milestone, otherwise the leaves will lapse.
iii. No accumulation or encashment of this leave is permissible.

Policy Guidelines

1. For the purpose of calculating leave, Year shall mean calendar year commencing on 1st day of
January and ending on 31st day of December.
2. All leaves need to be applied for and duly approved by Reporting Manager through Attendance &
Leave module on HRMS.
3. Minimum leave an employee can avail is 1/2 (half)day.
4. No employee shall avail leave in excess of his/her eligibility. However, in extreme exigencies, the
Reporting Manager, at his/her absolute 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 in succeeding months.
5. If an employee avails leave without prior approval of his/her Manager, then such absence will be
treated as Unauthorized Absence (UA) and even when the employee does have leave balance to
his/her credit, no salary will be paid for all those days of Unauthorized Absence. Further, when an
employee is on UA he/she will also be subject to appropriate disciplinary action. The employee’s
Manager can reject any leave application that has already been taken without prior approval even
if the employee has some leave balance.
6. Requests for Earned Leave/Restricted Holiday should be made well in advance and only on
approval, employees can proceed on or avail such leave. Earned Leave applied after availing it,
may be rejected by the Manager, and in that case it will be considered as Unauthorized Absence
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leading to loss of pay for those many days as applied and can be subject to disciplinary action by
the organization
7. If an employee is required to work in office on any important assignment on a Fixed
Holiday/Approved Restricted Holiday/ weekly off day, he/she is eligible to take a Compensatory
off. It shall need a prior BU Head Approval and will be added by HR from backend (subject to
approval from BU Head & their respective Manager)
8. All the leaves except Earned Leaves can be availed by an employee post confirmation only.

General Guidelines

1. The Management will be responsible for interpretation of the provisions of the policy.
2. Any exception to this policy needs to be approved by Vice President – Human Resources.
3. This Policy is subject to change at any given point of time by IndiaLends.
4. The decision of the company shall be final and binding.
5. Any amendments or additions to this policy would be communicated in writing and shall form a
part of this policy.

Version Created/Last Policy Effective Created By Approved By

Modified
Version 1.0 26th Jun 2018 1st Jul 2018 Anu Yadav Gaurav Chopra

Version 2.0 28th Dec 2018 1st Jan 2019 Ritika Bhatia Anu Yadav

Version 3.0 30th June 2019 1st July 2019 Ritika Bhatia Anu Yadav

Version 4.0 25th December 2019 1st January 2020 Himanshi Gupta Anu Yadav

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ANNEXURE 1: Holiday List 2020

Fixed Holidays - Non-Ops

S.No. Holiday Date Day

1 New Year 01-Jan-20 Wednesday
2 Maha Shivratri 21-Feb-20 Friday
3 Holi 10-Mar-20 Tuesday
4 Good Friday 10-Apr-20 Friday
5 Bakr Id/Eid ul-Adha 31-Jul-20 Friday
6 Rakshabandhan 03-Aug-20 Monday
7 Independence Day 15-Aug-20 Saturday
8 Gandhi Jayanti 02-Oct-20 Friday
9 Guru Nanak Jayanti 30-Nov-20 Monday
10 Christmas 25-Dec-20 Friday
Restricted Holidays(Any 2)

S.No. Holiday Date Day

1 Pongal 15-Jan-20 Wednesday
2 Ram Navami 02-Apr-20 Thursday
3 Budh Purnima 07-May-20 Thursday
4 Janmashtmi 12-Aug-20 Wednesday
5 Bhai Dooj 16-Nov-20 Monday
6 Chhath Pooja 20-Nov-20 Friday
Holidays excluded from Fixed/Restricted list as they fall on Sunday/2nd or 4th Saturday

1 Republic Day 26-Jan-20 Sunday

2 Eid-ul-Fitr 24-May-20 Sunday
3 Ganesh Chaturthi 22-Aug-20 Saturday
4 Muharram 30-Aug-20 Sunday
5 Dussehra 25-Oct-20 Sunday
6 Diwali/Deepawali 14-Nov-20 Saturday

Company Confidential document of IndiaLends(a brand owned & operated by GC Web Ventures Pvt. Ltd.)