Leave encashment
This query is : Resolved
25 January 2010
Hi
Is the leave encashment exempt on Basic Salary or CTC at the time retirement/reginantion.
R
Is the leave encashment exempt on Basic Salary or CTC at the time retirement/reginantion.
R
25 January 2010
No, it is exempted as per least of the following
1.Actual leave encashment received
2.10 months avg, salary immediately preceeding his retirment
3.Rs.300000
If leave encashment received during the retirement from govt. service - Not taxable
1.Actual leave encashment received
2.10 months avg, salary immediately preceeding his retirment
3.Rs.300000
If leave encashment received during the retirement from govt. service - Not taxable
25 January 2010
one more condition i.e. 4th condition
period of earned leave in months x Avg monnthly salary
for this period take 30 days of every completed year of service. deduct the leaves he has availed. now change rest in months.
minimum of these four (3 mentioned by Mr. Ramesh Krishnan) is exemption for non-govt employees
period of earned leave in months x Avg monnthly salary
for this period take 30 days of every completed year of service. deduct the leaves he has availed. now change rest in months.
minimum of these four (3 mentioned by Mr. Ramesh Krishnan) is exemption for non-govt employees
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