On the day of retirement, almost every employee smarts under a sense of injustice. He forced to make room for some half-backed professional just when he himself is ready for a doctorate in competency. Be that as it may, it is necessry to plan for thid eventuality and hence every employee must know not only the quantum of the various terminal benefits he would be geting,but also tax implications. The employee may have higher quantum of benefits by being fortunate in choosing a good employer but he has no choice in respect of taxes. Within certain limits, the terminal benefits are exempt.
