It is a concept where unutilized leave accumulated over the financial year is carried over to the following year. Generally, it is done at the end of the financial year so employees can redeem the balanced leave in the next year. The leaves accrued by the employee through forwarding these leaves are also called earned leaves or privilege leaves.
One of the most significant benefits is that it allows your business to be more flexible. Furthermore, it allows employees to plan ahead of the financial year if they want to build up additional vacation days for a major trip the following year.
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