Dear all,
Please help in solving the below issue
One employee in our company worked for 11 months . and resigned
Now he is claiming his LTA and Medical ALlowance in his full and final settlement
Problem is , we have a rule that LTA to be claime donly after completion of 1 year where as this person resigned after 11 months
In appointment letter we have asked for 3 months notice or pay in leiu of money.
teh person has not not any notice and he wants immediate release
PLease tell me , should we stop his LTA and Medial and cover under shortfall of notice period?
Can we even stop the PF amount?
I dunno anything , please help
From India, Hyderabad
2Please help in solving the below issue
One employee in our company worked for 11 months . and resigned
Now he is claiming his LTA and Medical ALlowance in his full and final settlement
Problem is , we have a rule that LTA to be claime donly after completion of 1 year where as this person resigned after 11 months
In appointment letter we have asked for 3 months notice or pay in leiu of money.
teh person has not not any notice and he wants immediate release
PLease tell me , should we stop his LTA and Medial and cover under shortfall of notice period?
Can we even stop the PF amount?
I dunno anything , please help
From India, Hyderabad
Hi,
As you have mentioned that the employee has left the organisation with immediate effect, you can recover the amount in lieu of notice period.
Could you let me know whether the LTA & Medical are the part of his CTC or not.
If yes, while doing the full the final settlement, you have to give the unclaimed amount as taxable salary. ( As per your company policy the employee has to claim LTA after completing 1 yr, but he has resigned so settle it with F&F)
AMATYA
As you have mentioned that the employee has left the organisation with immediate effect, you can recover the amount in lieu of notice period.
Could you let me know whether the LTA & Medical are the part of his CTC or not.
If yes, while doing the full the final settlement, you have to give the unclaimed amount as taxable salary. ( As per your company policy the employee has to claim LTA after completing 1 yr, but he has resigned so settle it with F&F)
AMATYA
Dear Amatya
Thanks for reply
If the employee not ready to pay the amount in lieu of notice period., in that case can we adjust his LTA and Medical amount for that
I mean can we adjust the LTA and Medical amt what we have with the amt he has to pay
LTA and MEdical are mentioned as part of CTC
Regards
Neelima
From India, Hyderabad
Thanks for reply
If the employee not ready to pay the amount in lieu of notice period., in that case can we adjust his LTA and Medical amount for that
I mean can we adjust the LTA and Medical amt what we have with the amt he has to pay
LTA and MEdical are mentioned as part of CTC
Regards
Neelima
From India, Hyderabad
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LTA (REDIFF).doc
Medical Facts.pdf