Document Identification Policy 2

Effective Date 15th December 2008

Version Number 1
Leave Policy Review Date 15th June 2009

1). Purpose
The purpose of the leave policy is to lay down the guidelines under which employees
become eligible for different types of leave and the rules and procedures for availing the
leave.

2). Scope
This policy is applicable to employees on the rolls of Peak XV Networks Pvt Ltd.
Definitions

“Employees” refers to an eligible permanent employee on the rolls of the
Company.

“Sanctioning authority” will mean the person who is vested with the power to
authorize leave of the employee concerned.

“Probationers” refers to employees who are not confirmed.

“HOD” refers to the Head of the Department

3). Policy
The policy aims to provide guidelines:

To set clear directions with the procedures of leave application

To provide a clear understanding of various types of leaves and regulations
those govern the policy.

To regularize leave taken by employees and to ensure compliance with statutory
obligations

Leave cannot be claimed as of right and when exigencies so demand, leave of
any kind may be refused or revoked by the authority empowered to sanction the
leave.

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Confidential – The Company reserves the right to change, modify, abrogate and/ or rescind this Policy at any time.
© Peak XV Networks Pvt Ltd 2008.Not to be reproduced without written consent.

Peak XV Networks Pvt Ltd., No.511, 3rd Floor ‘Westminster’ Cunningham Road, Bangalore – 560 052.
Tel: 91-80-2220 6130 / 2220 6131 Fax: 91-80-2220 8916, URL: www.peakxv.in Email: info@peakxv.in
4). Types of Leaves
There are 5 different types of leaves

Earned Leave

Casual Leave

Sick Leave

Leave without Pay

Compensatory Off

Compulsory Leave

Casual Leave:

Employees will be eligible to Casual Leave of 6 working days for every year of
service.

Casual leave can be taken with approval from the respective Department Head.

Notice of casual leave application must reach HR department 2 days in advance,
and the employee should get it approved before commencement of leave.

Casual leaves can not be taken for more than 1 day at a time.

This leave cannot be accumulated if there was no need to utilize this provision in
any calendar year.
Sick Leave:

Employees will be eligible to Sick Leave of 6 working days for every year of
service.

Sick leave can not be taken for more than 1 day at a time. Sick Leave taken for
more than one day will be considered as Earned Leave.

If the employee is unable to attend his/ her duties for two continuous days or
longer, he/she will be required to produce a registered Medical Practitioner's
leave & fitness certificates on his/her return to duties.

This leave cannot be accumulated if there was no need to utilize this provision in
any calendar year.

2
Confidential – The Company reserves the right to change, modify, abrogate and/ or rescind this Policy at any time.
© Peak XV Networks Pvt Ltd 2008.Not to be reproduced without written consent.

Peak XV Networks Pvt Ltd., No.511, 3rd Floor ‘Westminster’ Cunningham Road, Bangalore – 560 052.
Tel: 91-80-2220 6130 / 2220 6131 Fax: 91-80-2220 8916, URL: www.peakxv.in Email: info@peakxv.in
Earned Leave/ Annual Leave/ Privilege Leave:

All employees will be entitled to 12 working days annual leave in a calendar
year, these leaves will be accrued each month. For every 20 working days one
day is added to the annual leaves available.

Annual Leave can be taken by the employee upon completion of probation;
employee can take the amount of leave due to them as per their entitlement for a
calendar year.

Even though, each employee of Peak XV is eligible for Earned Leave from his
date of joining on pro-rata basis, in case if the employee leaves the organization
before the completion of probationary period, organization is entitled to deduct
such an amount during final settlement for the number of EL’s availed by an
employee based on condition of non eligibility to avail Earned Leave during
Probationary Period, in the organization.

Employees may split their leave within the leave year, but one part of it should
not be less than two working days taken consecutively.

Company holidays and weekly offs occurring during a period of leave can be
prefixed & suffixed to the Earned Leave.

Annual leave is calculated from the first working day of absence until the Day of
return to work (including intervening Week-ends and National Holidays).

In calculating leave under this section, fraction of leave of half a day or more
shall be treated as one full day's leave, and fraction of less than half a day shall be
omitted.

Casual and Sick leave availed for more than one day will be treated as EL.

An employee may at any time apply for the leave for not less than 6 days before
the date on which he wishes his leave to begin, to take all the leave or any
portion thereof allowable to him during the calendar year: Provided that the
application shall be made not less than fifteen days before the date on which the
employee wishes his leave to begin.

If an employee does not in any one calendar year take the whole of the leave
allowed; any leave not taken by him shall be added to the leave to be allowed to
3
Confidential – The Company reserves the right to change, modify, abrogate and/ or rescind this Policy at any time.
© Peak XV Networks Pvt Ltd 2008.Not to be reproduced without written consent.

Peak XV Networks Pvt Ltd., No.511, 3rd Floor ‘Westminster’ Cunningham Road, Bangalore – 560 052.
Tel: 91-80-2220 6130 / 2220 6131 Fax: 91-80-2220 8916, URL: www.peakxv.in Email: info@peakxv.in
 him in the succeeding calendar year: Provided that the total number of days of
leave that may be carried forward to a succeeding year shall not exceed ninety
days.

Provided further that the number of times in which leave may be taken during
any year shall not exceed 6.

If an employee wants to avail himself of the earned leave due to him to cover a
period of illness, he shall be granted such leave even if the application for leave is
not made within the time specified depending upon the faire consideration of
circumstances and in such case employee need to submit the medical certificate
along with the leave application once he returns back to work.

If the employment of an employee who is entitled to earned leave as the case
may be, is terminated from the company before he has taken the entire leave to
which he is entitled, or if having applied for and having not been granted such
leave, the employee quits his employment before he has taken the leave, the
company shall pay off him the amount payable in respect of the leave not taken,
and such payment shall be made.

The unavailed leave of an employee shall not be taken into consideration in
computing the period of any notice required to be given before discharge or
dismissal.

Employee will be entitled to avail a maximum of 10 days of accumulated leave at
any one time, subject to the approval of the HOD.

Employee must discuss sufficiently in advance of the desired time with
reporting manager, the days of accumulated leaves he wishes to avail and
alternative arrangements to handle his responsibilities during his absence.

Leave without Pay:

Without pay leave is granted only in exceptional circumstances approved by the
Department Head and only after all annual leave entitlement has been used up.

4
Confidential – The Company reserves the right to change, modify, abrogate and/ or rescind this Policy at any time.
© Peak XV Networks Pvt Ltd 2008.Not to be reproduced without written consent.

Peak XV Networks Pvt Ltd., No.511, 3rd Floor ‘Westminster’ Cunningham Road, Bangalore – 560 052.
Tel: 91-80-2220 6130 / 2220 6131 Fax: 91-80-2220 8916, URL: www.peakxv.in Email: info@peakxv.in

Leave is calculated in half-day unit from the first morning/afternoon of absence
until the morning/afternoon of return to work (Week-ends and national
holidays are included in the calculation of number of days absent).

Compensatory Leave:

In case an employee is required to work on Weekly Off’s and Holiday’s, they are
eligible for a compensatory leave.

An employee will be eligible for compensatory leave only if he/she had worked
8 hours on the holiday.

Compensatory leave will be provided at the discretion of the respective
Department Head.

The compensatory leave must be taken within 8 weeks from the day, failing
which they will be deemed as lapsed.

Compensatory Off is not en-cashable. Such Off’s cannot be adjusted against the
notice period at the time of an employee leaving the Company.

Compulsory Leave:
Peak XV management at its discretion may ask its employees to go on compulsory leave.
This particular scheme of compulsory leave could be used as a risk mitigation measure.
Further management at its prudence can ask its entire employees / department /
employee to go on leave and close down the business / process for fixed number of
days. Under circumstances management may decide the number of compulsory leaves
and such number of compulsory leaves will be deducted from the accrued annual leaves
of employees.

5). Leave Encashment

Employee is entitled to leave encashment for any number of days exceeding 30
days of leave. Leave can be carried forward up to a maximum of 90 days and it
can be encashed once in a year. The salary for the bases of computing leave
encashment will be the last drawn basic salary of the employee and on a 30-day
5
Confidential – The Company reserves the right to change, modify, abrogate and/ or rescind this Policy at any time.
© Peak XV Networks Pvt Ltd 2008.Not to be reproduced without written consent.

Peak XV Networks Pvt Ltd., No.511, 3rd Floor ‘Westminster’ Cunningham Road, Bangalore – 560 052.
Tel: 91-80-2220 6130 / 2220 6131 Fax: 91-80-2220 8916, URL: www.peakxv.in Email: info@peakxv.in
 month basis. The formula for encashment will be: Last month’s basic salary *
Number of days of actual Privilege leave balance in excess of 30 days. An
employee who ceases to be in the employment of the Company shall be entitled
to encashment of all accrued leave, as on the date of the severance of service.

Encashment of leaves will be done only on the basis of last drawn basic salary of
the concerned employee.

Leave encashment window will be announced once in a year probably during
the month of April/May. Employee has to apply for “Leave Encashment” within
specified period of time once such publication is made if he desires to encash the
accrued leaves in his account.

All taxes arising out of any encashment of leave as provided in this policy will be
to the employee’s account. This will include current as well as future legislation.

6). Holidays during Leave

If a national or festival holiday occurs during your scheduled comprehensive leave, the
day will count as a privilege leave day and not as holiday.

7). Application for leave while on tour

If an employee wishes to avail Privilege leave when out of station on tour on Company
work, he/she will be required to apply for such leave before proceeding on the tour.

8). Leave Rules:

Leave will be credited to the account of the employee on yearly basis at the end
of 31st March.

For the first year of employment, leave will be credited as follows:

All probationary/confirmed employees are eligible for the above-referred leaves
of 12 days EL; 6 days CL and 6 days SL.

Casual Leave and Sick Leave can be availed only for the period of one day
maximum; both kinds of leaves taken for more than one day will be considered
as Earned Leave.
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Confidential – The Company reserves the right to change, modify, abrogate and/ or rescind this Policy at any time.
© Peak XV Networks Pvt Ltd 2008.Not to be reproduced without written consent.

Peak XV Networks Pvt Ltd., No.511, 3rd Floor ‘Westminster’ Cunningham Road, Bangalore – 560 052.
Tel: 91-80-2220 6130 / 2220 6131 Fax: 91-80-2220 8916, URL: www.peakxv.in Email: info@peakxv.in

Any employee who joins after the 15th of a month does not earn any leave for the
month of joining.

When an employee serves the company only for part of a month, he/she will be
entitled to Earned, Casual and Sick Leaves on a pro -rata basis depending upon
the leaves for every completed month of service and it will be rounded off to the
nearest day.

The HR Department will update the leave record of all employees on a monthly
basis.

Employees are requested to plan their Earned Leave well in advance and inform
the same to the HOD concerned.

Employees are required to apply at least six days in advance for approval if leave
is up to 3 days, at least ten days in advance for Earned Leave of 5 days or more
and fifteen days advance for Earned Leave of 6 or more days.

It will be the responsibility of the employee to ensure that he/she would proceed
on leave only after the sanctioning authority has duly approved his/her
application for leave.

If the employee wishes to extend leave originally granted he/she will be
required to make an application by email or inform the sanctioning authority
over telephone or by any other method. The sanctioning authority will send a
reply granting or refusing such extension to the employee. If the employee does
not receive any such reply, the application for extension of leave will be treated
as rejected and the employee will be required to resume duties on completion of
leave originally granted.

The sanctioning authority will have the discretion to revise, curtail or revoke
leave already sanctioned to an employee depending upon the requirements of
presence of the employee in the office.

If an employee remains absent without leave or overstays leave without sanction
for a period of three consecutive days or more, disciplinary action may be
initiated against the employee by the Company.

7
Confidential – The Company reserves the right to change, modify, abrogate and/ or rescind this Policy at any time.
© Peak XV Networks Pvt Ltd 2008.Not to be reproduced without written consent.

Peak XV Networks Pvt Ltd., No.511, 3rd Floor ‘Westminster’ Cunningham Road, Bangalore – 560 052.
Tel: 91-80-2220 6130 / 2220 6131 Fax: 91-80-2220 8916, URL: www.peakxv.in Email: info@peakxv.in

In case of genuine and extreme emergency, the Management may, at its sole
discretion, grant leave before it has been earned and credited to an employee’s
account. Such leave will be debited to an employee’s leave account to be adjusted
as and when the leave is actually credited.

Advance leave may be considered only on a case -to-case basis by the HR Dept.
in consultation with the Department Head. However, this is a deviation and will
not be approved in the normal course.

In case the employee leaves the services of the Company before this advance
leave credit has been earned and ratified, the same shall be deducted/ adjusted
as a part of the full and final settlement of the employee.

Leave cannot be considered for adjustment against notice period at the time of an
employee leaving the services of the Company

9). Leave Procedures

Leave should be applied through specified Leave Application Format.

10). National & Festival Holidays

The company selects a maximum of 12 holidays per year based on considerations such
as national celebrations, religious festivals & bearing in mind the preferences of our
teams. The national and festival holiday list is reviewed every December and will be
published shortly thereafter.

Approved By

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Confidential – The Company reserves the right to change, modify, abrogate and/ or rescind this Policy at any time.
© Peak XV Networks Pvt Ltd 2008.Not to be reproduced without written consent.

Peak XV Networks Pvt Ltd., No.511, 3rd Floor ‘Westminster’ Cunningham Road, Bangalore – 560 052.
Tel: 91-80-2220 6130 / 2220 6131 Fax: 91-80-2220 8916, URL: www.peakxv.in Email: info@peakxv.in