Yes friends, how are you? I am CS Ray Gupta, your friend,
your companion, your well-wisher.
And we were talking about salary head.
In salary head, in the last lecture, friends, we talked
about gratuity.
And I told you then also that in some cases it was
exempted, in some cases it became taxable.
Sir, just like we get gratuity, in the same way we get many
more benefits.
You must have heard a word, leave encashment. We are going
to discuss this today.
What is leave encashment, sir? Generally, sir, if you go to
any company, then it happens that in a month, one leave is
allowed to you.
Means, if you take a leave in a month, then your salary
does not get deducted from it.
It is said that you are entitled for that leave. Its money
will not be deducted from you.
One leave per month. Till then no money will be deducted
from you.
So, approximately 12 leaves are made for 12 months.
Now, suppose there is a hardworking employee like me, who
works 14-15 hours a day.
His employer has given him one leave per month.
But he is such a hardworking person. He says that I am very
hardworking.
I will get water from the desert also. I do that kind of
hard work.
So, in that case, he does not take even one leave.
His leaves start accumulating. There is no leave in
January, no leave in February, no leave in March.
Suppose, a person has worked for 12 months and his 12
leaves have accumulated.
Now, what will he do? He will go to his employer at the end
of the year and say,
Malik, Ram Ram. He will say, Malik, Ram Ram.
So, the employer will also say, Ram Ram.
Tell me, what is the matter?
He will say that you gave me 12 leaves.
But my heart is such that I work so much that I have not
taken those 12 leaves.
You do one thing. You keep those 12 leaves. I do not want
them because I have not taken them.
In return, give me money.
Suppose, if I have a salary of Rs. 30,000, then one day's
salary is Rs. 1,000.
How much is made for 12 days? Rs. 12,000.
Now, I will go to my employer and say that these were the
12 days' leave that you gave me.
But I have not taken them. In return, give me my money.
What am I doing with those 12 days' leave? I am getting
them encashed.
Can an employer give leave encashment to his employee?
Nikamu, at least tell me now.
He can give. He can give anything.
We just have to see how much is taxable and how much is
exempt.
So, the employer gave his employee Rs. 12,000 as leave
encashment.
In that case, how much taxable will the employee's hands be?
We are discussing that here.
Let me explain it to you.
Let me open my notepad and run the pen.
Because without it, you will not be able to understand
things.
Sir, you work so hard and speak so much.
Only when you speak, you are able to understand things.
Come here. We are talking about leave encashment.
We are talking about leave encashment.
We know that the employer can give anything to the employee.
But we have to see how much is taxable and how much is
exempt.
Let me tell you how much is exempt.
First of all, you have to close your eyes and see how much
is the actual receipt.
It is the same in every case. It was the same in gratuity
too.
How much is the actual receipt?
Okay, we will see.
Secondly, we have set a limit of Rs. 3 lakhs.
There will be a limit in every case.
In gratuity, it was Rs. 20 lakhs.
In this case, it is Rs. 3 lakhs.
First, you have to absorb it.
Try to understand what it is.
Okay.
Thirdly, salary for 10 months.
Salary for 10 months.
Is this clear?
Salary for 10 months.
It is the average salary.
I will tell you what will be the average salary.
Fourthly, leave credit.
The one you had.
Multiply it by the average salary.
See what it is.
I will explain it to you.
Don't worry. I will explain it to you.
My brother will explain it to you.
Sir, your handwriting is very good.
What should I do with my handwriting?
Adjust it a little.
See, there is no problem in these two points.
You will get to know the actual receipt.
Case to case.
Rs. 3 lakhs.
We have set a limit.
Now, come to the next one.
Salary for 10 months.
Now, what will be in the salary?
Your question should arise in everything.
What will be covered in the salary?
Sir, in the salary, it is not the last drawn salary.
That salary is the average salary for 10 months.
Average salary for 10 months.
Average salary for the last 10 months.
And in that, your dearness allowance will be included.
That too for 10 months.
And when dearness allowance is included, the commission for
10 months, according to the turnover, that too should be
included.
Sir, what are you saying?
I was writing.
Friend, what are you doing?
Take this.
Salary, plus DA, plus commission.
But what is the average for these months?
This is the average for 10 months.
Okay, sir?
If it is the average for 10 months, then take it for 10
months.
No problem.
No problem, sir.
When your average salary comes, then it will be useful here
too.
Because here too we need an average salary.
So, if you calculate this for one, then it will be used for
both.
And this is leave credit.
Leave credit means, in Hindi, leave credit means how many
holidays were allowed to you throughout the year.
And how many of those holidays did you take?
Assume that throughout the year,
I was allowed 20 holidays.
And I took 12 of those holidays.
So, what should be the leave credit?
Answer is 8.
Throughout the year,
I was allowed 100 holidays.
And I took 60 holidays.
So, what will be the leave credit? 40 holidays.
Leave credit of 40 holidays means that for the money of 40
holidays,
I can get N-cash.
It was 100.
Out of 100, I have taken 8 holidays.
That is over.
But for the money of 40 holidays,
I can get N-cash.
What is leave credit?
Sir, out of the 365 holidays available,
I took only 365.
Do one thing.
Then leave it.
Why are you getting a job?
When you are getting 365 holidays, what kind of job is this?
Tell us.
We will also come.
Did you understand the meaning of leave credit?
How many holidays did you get?
Out of those, how many did you use?
You will get money for the balance.
Assume that in this case, there were 40 holidays of leave
credit.
Multiply it by the average salary.
And average, as you know, how much did we take in this case?
Average salary of 10 months plus dearness allowance of 10
months and commission of 10 months based on turnover.
We took this, sir.
Out of these, what will be the lowest?
Exempt.
Let's understand with an example.
For example, the average salary of a person of 10 months,
salary plus dearness allowance
plus commission.
Assume that the salary is Rs.
80,000 average salary of 10 months.
Of the last.
You add Rs. 10,000 to it.
Dearness allowance.
Okay, Rs. 90,000.
And assume that he gets commission based on turnover.
Average of Rs.
10,000 per month of the last 10 months.
So what is the total salary?
Rs. 100,000.
Now how much is here?
Salary of 10 months.
Rs. 10,000,000.
This point is clear.
Rs. 3,00,000.
And assume that his actual leave and cashment received is
Rs.
Rs. 20,00,000 is done.
Rs. 3,00,000 is here.
Rs. 10,00,000 is from here.
And assume that he had leave credit for 10 days.
What did he have for 10 days?
Leave credit.
So what will he do in that case?
According to 10 days, calculate your salary.
Or assume that the leave credit was for 15 days.
So Rs. 50,000.
Simple.
Rs. 1,00,000 for 15 days.
15 divided by 30.
So Rs. 50,000.
So what is the minimum out of all three?
Rs. 20,00,000, Rs.
3,00,000, Rs.
10,000 or Rs.
What is the minimum?
Rs. 50,000 is the minimum.
If Rs.
20,00,000 is less then the government will make
Rs. 50,000 exempt.
And the actual receipt of Rs.
20,00,000 is Rs.
will be taxable.
If you get 20 lakhs, if you compare it with the other 4,
and it turns out that 50,000 is the lowest, you can exempt
the lowest amount, and the remaining 19.5 lakhs will be
taxable in the hands of the employee.
This is the point.
Any problem with this?
Look at it, if you want to understand, then understand.
I have already explained it.
Any problem?
Sir, does the government give benefits in this case as well?
You always say that the government and the government
employees get benefits.
In this case as well, let me tell you what happens.
Leave encashment during the term, during the service, if
you take it, what are you doing?
You are taking it during the service.
Your service is going on, so what are you doing?
You have taken the leave encashment.
Okay? What has happened?
Wait, let me set it up.
I think it has stopped.
Let me explain it to you as it is.
Don't worry.
Look at our hard work, it has opened up again.
I have told you,
I keep telling you, our hard work is so much, we are
studying so hard, we are forced to study.
Look in front of you, a miracle has happened.
Say, Jai Jai Kaur of Baba Shreya Gupta Ji.
Come on friends, as we are talking about leave encashment,
I am telling you, if you get it during the service, you
took it during the service, you go every year, you collect
the leaves of the year, and you go to your employer, at the
end of the year, you give me money,
I didn't take leave.
In that case, whether you are a government employee, or a
non-government employee, you will get taxable, in both the
cases.
Even if you are a government employee, we are telling the
government employee, we have given you a lot of benefits.
During the service, you are getting taxable.
Don't take so much from us.
We also have to run the country.
Who will bring a good day?
Will uncle bring it?
And this is another thing, when you retire, or when you
leave the job, if you take it at that time, in that case,
in the hands of the government, it will be completely
exempt.
One more benefit, benefit after benefit, of coming to the
government job.
And in the case of the private employees, as discussed, as
per our discussion, it will be exempt.
During the service, any employee will get taxable.
During retirement, or when you leave the job, in that case,
in the hands of the government, it will be completely
exempt.
Even if you get 50,000 crores, in the hands of the
government, it will be completely exempt.
And in the hands of the non-government, i.e.
the actual salary, 3 lakhs, 10 months average salary, and
the leave credit, multiply it by salary, whatever will be
less, will be exempt.
This is the point.
With this, our topic on leave and cashment comes to an end.
See friends, we faced a lot of trouble.
But we did not give up.
The lecture continued and the trouble came and went away
And we also ignored it
And our lecture continued
That's why it is said that if there are problems in life
Then ignore it accordingly
Like we did today
Ignore the problems of your life
Like in your life
You ignored the mark sheet of 11th class
Was there any use of that mark sheet?
There was nothing, right?
That's all I wanted to say, friends
Thank you very much