Please not Employer contribution on PF is not taxable even if it is included as part of CTC indicated by you.
Leave encashment is taxable upon resignation but is exempt from tax subject to a ceiling upon superannuation.
You have already considered Conveyance exemption Rs.800/ month and Medical reimbursement Rs.15000/ anum. Additionally you can extend 15% of basic salary towards superannuation contribution to LIC and LTA (subject to a two claims in a block of four calendar years) which is exempt from tax. LTA is not taxable provided the employee undertakes the travel and produces bills to that effect. You can also extend Mediclaim coverage to the employee and his family.
Trust the matter is clarified
16th December 2010 From India, Madras