ML meaning in Business ?

Parental leave, or family leave, is an employee benefit available in almost all countries. The term "parental leave" may include maternity, paternity, and adoption leave; or may be used distinctively from "maternity leave" and "paternity leave" to describe separate family leave available to either parent to care for small children. In some countries and jurisdictions, "family leave" also includes leave provided to care for ill family members. Often, the minimum benefits and eligibility requirements are stipulated by law.

Unpaid parental or family leave is provided when an employer is required to hold an employee's job while that employee is taking leave. Paid parental or family leave provides paid time off work to care for or make arrangements for the welfare of a child or dependent family member. The three most common models of funding are government-mandated social insurance/social security (where employees, employers, or taxpayers in general contribute to a specific public fund), employer liability (where the employer must pay the employee for the length of leave), and mixed policies that combine both social security and employer liability.

Parental leave has been available as a legal right and/or governmental program for many years, in one form or another. In 2014, the International Labour Organization reviewed parental leave policies in 185 countries and territories, and found that all countries except Papua New Guinea have laws mandating some form of parental leave. A different study showed that of 186 countries examined, 96% offered some pay to mothers during leave, but only 44% of those countries offered the same for fathers. The United States, Suriname, Papua New Guinea, and a few island countries in the Pacific Ocean are the only countries in the United Nations that do not require employers to provide paid time off for new parents. Private employers sometimes provide either or both unpaid and paid parental leave outside of or in addition to any legal mandate.

Research has linked paid parental leave to better health outcomes for children, as well as mothers.