Calculation of leaveencashment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 September 2015 Dear experts,
at the time of resignation employee has received rs. 38462, as leave encashment, his salary was 25000 PM. and his unavailed leave was 44, and his working tenure was 1 year, 2 month, 17 days, the calculation is below mention......
(1) rs. 300000
(2) actual amount received rs. 38462 (3)his average salary of 0 month is 25000 10*25000=250000 (4)25000*10*44/30=3,66,667 hence the actual amount received 38462 will be exempt.. plz tell me weather this calculation is correct or not if not please rectified my mistake.....

thanks & regard
Atul sharma

Amol S Joglekar

Amol S Joglekar (Expert)
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19 September 2015 The calculation is correct.
(I am sure it is a non government employment.)

Querist : Anonymous

Querist : Anonymous (Querist)

19 September 2015 sir thnx a lot for replying. and yes it is non goverment employment.......

Amol S Joglekar

Amol S Joglekar (Expert)
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19 September 2015 You are most welcome.
.
.

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