I have completed my articleship on 25.02.2012 for 3.5 years. I have a doubt regarding Leave allowed by institute. I have taken total leave of 260 days.( includes 40 days are Sundays, govt/Gazzetted Holidays.) Can I deduct these 40 days from 260 days for calculating my leave calculation to show in Form No. 108. please refer any circular or notification in this regard issued by ICAI.
A trainee earns leave at the rate of one–sixth of the period actually served by him. Leave due is ordinarily granted, if reasonable notice has been given by the trainee to his MIT / Principal. For detail calculation of the leave refer to Annexure II of the Training Guide.
Weekly holiday (Sunday/Govt holiday) will not be taken into account for leave calculation.