I recently got an advanced retention bonus of lets say 15 lakhs and the retention period for that amount is 2 years.
I have a question lets say the retention bonus was given in sept 2021 and the period will complete in sept 2023, if I leave the company before that time period, i'll have to pay the retention bonus on pro rata basis, table for which is given below and retention bonus was given after deducting the tax.
What I wanted to know is If I leave my organisation on April 2022, I'll have to pay 1125000 rs, but tax was already deducted in the last financial year, so how will the tax be calculated.
Exit Month Remaining Month Recovery Amount
Oct-21 24 1500000
Nov-21 23 1437500
Dec-21 22 1375000
Jan-22 21 1312500
Feb-22 20 1250000
Mar-22 19 1187500
Apr-22 18 1125000
May-22 17 1062500
Jun-22 16 1000000
Jul-22 15 937500
Aug-22 14 875000
Sep-22 13 812500
Oct-22 12 750000
Nov-22 11 687500
Dec-22 10 625000
Jan-23 9 562500
Feb-23 8 500000
Mar-23 7 437500
Apr-23 6 375000
May-23 5 312500
Jun-23 4 250000
Jul-23 3 187500
Aug-23 2 125000
Sep-23 1 62500
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