i would like to know if there is a way of limiting the number of days an employee can take for leave annually using
Absence Request and Vacation Schedule Management template.
There is, but you will need to write an Event Receiver. Triggering off the ItemAdded event, the Event Receiver would do the checking to ensure the employee isn't over the limit and allow the update through if they're not over the limit. If limits
are exceeded, the Event Receiver would cancel the update and return an error message to the user stating that they're over the limit.