Calculation of leaveencashment
Querist : Anonymous
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
(I am sure it is a non government employment.)
Querist : Anonymous
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