What is Pink Slip and Why It is Important | HRMantra HR Software
2-2 minutes
The word pink slip is used to refer to a notice which is given to an employee for dismissal. It means an official notification stating that the employee has been eliminated from the services, and his services are no longer required. It can also be considered as an informal term for termination letter.
In simple words, it means that you are fired. It isn''t welcomed by the employees for most of the people due to obvious reasons.
Well, the term pink slip is used so immensely because it is an American expression. If you look at pink slip meaning, it means termination notice given by an employer to an employee. Because of so many layoffs, you can also say that company or job marketplace is awash in pink as so many pink slips are being issued.
You can initiate the termination procedure digitally with workforce management software.
Pink slip is just an informal term used to talk about termination notice. Clearly, it is not welcomed by the employee but is something an employer does only when he has no other option left. The Pink slip in HR acts as a termination period for the employee it has been given to.
Sukriti Saini 4-4 minutes 6/13/2019
Let us examine them one by one, in sequence.
The leave policy and holiday allowance in each organization is defined in accordance with the concerned state''s Shop and Establishment Act. Hence, employees are restricted to availing a limited number of holidays as per their corporate leave calendar prepared based the same. Certain optional holidays of local importance which do not apply to every working professional have been mentioned in this act. Any such catalogue of optional holidays is termed Restricted Holidays. Out of this list, employees can avail only two holidays in a year based on their convenience and discretion which implies that it is a working day in offices on such occasions. These paid time offs have been added to the record of holidays to promote cultural and religious pluralism of the country.
Here is the list of 34 restricted holidays 2021 for your perusal. Take a look.
Some of the common Restricted Holidays are New Year, Makar Sankranti, Onam, Raksha Bandhan, Guru Gobind Singh Birthday etc. It is the duty of an employer to keep the new joiners, as well as the existing workforce, posted about the Restricted Holidays. Be it at the very moment when they share an offer letter template with the newbies or at the start of every new year for those already working. Not only this will help every individual to plan leaves in advance, but also with their free will.
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