For employees leaving a job or retiring. Enter the last basic plus DA and the leave days to see the encashment, the tax-free part and what is taxed as salary.
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Basic + DA Rs 60,000, 90 days encashed on resignation, 8 years of service, average Rs 58,000, 60 days used earlier
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Leave encashment Rs 1,80,000: Rs 1,74,000 tax free (cash value of 90 days at the average salary) and Rs 6,000 taxable as salary
Basic plus DA for a month, divided by 30 (or 26 in some companies), times the leave days encashed.
On leaving a private job, the lowest of: the amount received, Rs 25 lakh (lifetime, from 1 April 2023), 10 months of average salary and the cash value of unused leave at up to 30 days a year of service.
Yes. Leave encashed while you are still working is fully taxed as salary. The exemption applies on retirement or leaving, in both tax regimes.
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