Pension Leave Encashment Calculator

10 years is the minimum eligibility period for receipt of pension. It is a periodic payment made especially to public servants who have completed their service. It is created by an employer for the benefit of an employee which is commonly referred to as an occupational or employer pension. Use this online Pension Leave Encashment calculator to find Encashment amount from number of years of service, leaves credited and availed, and average salary for last 10 months.

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10 years is the minimum eligibility period for receipt of pension. It is a periodic payment made especially to public servants who have completed their service. It is created by an employer for the benefit of an employee which is commonly referred to as an occupational or employer pension. Use this online Pension Leave Encashment calculator to find Encashment amount from number of years of service, leaves credited and availed, and average salary for last 10 months.

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Formula:

Z = (((Y x C) - A) / 30) x S Where, Z = Encashed Amount at the Time of Retirement or Resignation Y = No of completed Years of service. C = Total no of leaves Credited per year. A = Total no of leaves Availed during the service (Total no of leaves minus no of leaves that were encashed). S = Average salary for last 10 months.

Example

A government employee who has completed 60 years of service credited 12 leaves and availed 15 leaves with an average salary for last 10 months of Rs. 35000.

Pension Leave Encashment Amount = (((60 x 12) - 15) / 30) x 35000
= 705 / 30 x 35000
= 23.5 x 35000
= Rs. 822500


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