Dear All,
Request you to help me out with the policy of LTA and Medical Allowance.
We have a provision to release LTA and Medical after completion of 1 year. kindly suggest if one employee has completed 1 year and 8 month with the company, then at the time of full and final, will he be entitled for getting the LTA and Medical for another 8 months.
Please guide, as my company is not allowing to release because as per them one has to claim it on the yearly basis.
Regards,
Rachna
From India, Delhi
10Request you to help me out with the policy of LTA and Medical Allowance.
We have a provision to release LTA and Medical after completion of 1 year. kindly suggest if one employee has completed 1 year and 8 month with the company, then at the time of full and final, will he be entitled for getting the LTA and Medical for another 8 months.
Please guide, as my company is not allowing to release because as per them one has to claim it on the yearly basis.
Regards,
Rachna
From India, Delhi
During the Full & Final Settlement Process, the employee is entitled for the LTA and Medical Allowance. In that case, the prorated amount for the number of months the employee have served with the company for the financial year has to get disbursed to the employee. In case, if your company has the procedure of releasing Medical Allowance Amount, only on submission of medical bills by the respective employees; then the company should reimburse the medical allowance amount only if the employees have submitted the bills to the concerned HR during the F&F process. But, the Pay elements namely LTA and Medical Allowance are taxable and hence upon prior submission of the concerned bills (if furnished), the employee is exempted from tax deductions.
Regards,
Vidyaa V
From India, Madras
Regards,
Vidyaa V
From India, Madras
Thanks a ton vidya for the reply, means we should provide the LTA and Medical for that 8 months as well, whether the individual has submitted it for an year or not.
From India, Delhi
From India, Delhi
Yes, He is eligible for LTA and Medical for 8 months. Simply calculate LTA & Medical for one month and multiply with 8. Dev Agarwal
From India, Faridabad
From India, Faridabad
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Maharashtra Special allowance Notification July 14 to Dec 14.pdf
LTA (REDIFF).doc