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