One of my employees joined in April-2018. This is his first employment as he has never worked anywhere before. After working for merely 5 months, he is leaving this job in August.
How should I calculate the Leave encashment exemptable amount for his leave balance of 20 days where the Leave Encashment Amount is Rs. 30,000/-. How should I calculate his last 10 months Average Salary as he just has only 5 working months till date?
As he is leaving, how should I calculate the tax exemptable amount?
How should I calculate the Leave encashment exemptable amount for his leave balance of 20 days where the Leave Encashment Amount is Rs. 30,000/-. How should I calculate his last 10 months Average Salary as he just has only 5 working months till date?
As he is leaving, how should I calculate the tax exemptable amount?