Glossary
Paid Holidays
Meaning & Definition
Paid Holidays are days wherein employees are permitted to be away from their job without any loss of their wages or salaries. These may be statutory holidays, national holidays, festival holidays, or any other holidays as per the terms of the company’s policy or applicable employment law.
Importance of Paid Holidays
- Gives employees paid leave from work.
- Enhances the well-being of employees.
- Considers various festivals and statutory holidays.
- Keeps the organizations with a uniform policy of holidays.
- Makes sure that employees know the working and non-working days.
- Helps the employer comply with the required statutory obligations.
Legal Compliance
- Paid holidays in India depend on the applicable Shops and Establishments Act of the state, Factories Act, and other employment legislation depending upon the establishment and type of work.
- National and Festival Holidays as per the state Shops and Establishment Acts or other employment laws may provide for some paid holidays and other requirements.
- A holiday list as per applicable state laws, employment agreement and statutory requirements needs to be maintained by the employer.
