Statutory/Closed Holidays Policy: Human Resource Policy for Microfinance Companies

The Company operations will be closed on Statutory Holidays entitled to 4 holidays in a year as specified below:

• _____________________________________
• _____________________________________
• _____________________________________
• _____________________________________

In addition to these, there would be six (6) days of festival holidays, which would be decided by the Company at the beginning of each calendar year. The details of the list would be available at all branches/ offices of Company as an office circular

Absenteeism

1. An employee is considered absent if he/ she is not present for work as scheduled, regardless of cause.
2. An employee is responsible for notifying his reporting manager of his/her absence each day of the absence and advising when he/she will report to work. Excessive absence would attract disciplinary action, which may result in termination. In addition to the disciplinary action, two day’s salary would be deducted for every single day of unauthorized absence.
3. The organization also reserves the right to terminate any employee who is absent without notification. After seven days of unauthorized absence the employee will be treated as absconding. There would be a show cause notice sent to the permanent address for the employee to respond or else it could lead to termination of employment.
4. Employees will not be allowed to apply any leave to regularize their absenteeism.
5. Reporting Managers/authorities should give special attention to absence patterns such as:

• Absent the day before and/or the day after a scheduled holiday or unscheduled holiday.
• Absent the day after payday.
• Calling in sick regularly.

1. It is mandatory for an employee to call the reporting manager/authority in advance and communicate if they are going to be absent.  

Procedure

1. Any employee who wishes to avail leave should forward to line HR a Leave Application Form duly signed and sanctioned by the reporting manager/ authority prior to proceeding on leave.
2. When it is not possible to take prior sanction, the reporting manager/ authority may be informed verbally of the duration of absence. The leave note may be forwarded after the date of joining duty.
   1. Any leave availed without prior sanction and or verbal consent of the reporting authority shall be treated as unauthorized leave.
   2. Normally, the employee’s application for leave will be treated favorably. However the organization reserves the rights to curtail/refuse the leave applied for or recall an employee who has already been granted leave, if exigencies of work so grant.

Authority to Sanction Leave