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HR Glossary
What is an Appointment Letter?

What is an Appointment Letter?

An appointment letter is an official document issued by an employer to a prospective employee, confirming their selection for a specific job role. It outlines the job title, responsibilities, compensation, benefits, and terms of employment.

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What is Employee Turnover Rate?

What is Employee Turnover Rate?

Employee turnover rate refers to the proportion of employees who leave a company over a certain period. It is typically expressed as a percentage and is calculated by dividing the number of employees who have left the organization by the average number of employees in that period.

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What is Sabbatical Leave?

What is Sabbatical Leave?

Sabbatical leave is an extended break from work, typically granted after a certain period of employment. It’s often used for rest, personal development, or pursuing other interests, with job security.

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FnF (Full and Final)

FnF (Full and Final)

FnF, which stands for Full and Final, is a financial settlement made between two parties to fully close outstanding dues, liabilities, or contractual obligations. It signifies a complete and final payment towards any amounts owed between two individuals, companies, or organizations.

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Earned Leave (EL)

Earned Leave (EL)

Earned Leave, also known as Privilege Leave (PL) or Vacation Leave (VL), refers to paid time off that employees are entitled to annually based on their work tenure. Employees ‘earn’ these leaves in return for days worked during the year. Earned Leave is also sometimes termed as Annual Leave (AL) or Flexi Holiday by certain organizations.

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