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Leave Encashment Declaration
Leave Encashment Declaration
PSID :
Name :
Date of Joining :
Any leave encashment at the time of termination is exempt subject to following conditions.
As per Section 10(10AA) (ii) of the Act, leave encashment of accumulated leave at the time of retirement
whether on superannuation or otherwise received is exempt to the extent of minimum of the following
c) Cash equivalent of un-availed leave calculated on the basis of maximum days of leave for every year of
actual service rendered to the employer from whose service he has retired. Cash equivalent to be
calculated on the basis of average salary;
*The above mentioned ceiling limit of INR 300,000 is a lifetime limit available to an individual
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I understand that exemption under Leave Encashment is limited to INR 3 lakhs either received
from one or more employers in the same or different years. Hence, if the total amount exceeds
the exemption limit, the same is taxable in the hands of the employee.
Date :
Location :
RESTRICTED