Purpose
[Company Name] believes that its employees are the key to what makes a great company. Although work makes up a large portion of an employee's life, we believe that a balance between work and nonwork activities is essential to maintain quality performance and a positive work atmosphere. To support this philosophy, the company has designed a paid time off (PTO) plan that incorporates vacation, personal and sick leave into one program.
Accrual Rate
All full-time employees will accrue PTO hours according to the following schedule:
Years of Service Hours per Pay Period Days per Year
0-2 years 3.07 hours 10 days
3-5 years 4.61 hours 15 days
6-10 years 6.15 hours 20 days
11+ years 7.69 hours 25 days
For purposes of this policy, the year begins on the employee's date of hire.
Procedures
PTO is designed to cover leave for vacation, personal sickness, family sickness, family activities and extra holiday time.
In general, foreseeable PTO must be preapproved by and prescheduled with the employee's supervisor and must be taken in full hour increments. Approval for all scheduled time away is subject to applicable workloads. In case of an emergency, however, employees shall be allowed to take up to [number of hours/days] unscheduled PTO with less than 24 hours' notice and regardless of applicable workload.
A maximum of 40 hours of accrued and unused PTO time may be carried over from one calendar year to the next.
In the event an employee needs time away from work prior to accruing the necessary PTO hours, an employee may build up a negative balance with the prior approval of his or her supervisor.
Employees will be paid for all earned and unused PTO time upon termination of employment.
Final paychecks for nonexempt employees will include deductions for repayment of any negative PTO balance upon termination.
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