Hi,
I want to know when LTA is typically paid to an employee. For example, if an employee has an LTA package of Rs. 15,000 per annum, when should the employee actually receive the LTA amount? Is it supposed to be paid in March, at the end of the financial year, after deducting the tax, supporting travel bills, etc.? Should it be in March?
Please let me know.
Cheers,
Nikhil
From India, Madras
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I want to know when LTA is typically paid to an employee. For example, if an employee has an LTA package of Rs. 15,000 per annum, when should the employee actually receive the LTA amount? Is it supposed to be paid in March, at the end of the financial year, after deducting the tax, supporting travel bills, etc.? Should it be in March?
Please let me know.
Cheers,
Nikhil
From India, Madras
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LTA is paid once an employee is eligible for PL/ELs and avails the same. They need to submit the travel bills along with the leave form. Usually, LTA is tax-free if paid twice in 4 years.
Regards, Poonam
From India, Delhi
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2Regards, Poonam
From India, Delhi
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Hi,
LTA could be paid:
1. every month as a breakup of the salary, but the amount considered for tax exemption will be only for the bill produced by the employee.
2. The amount could be paid during Jan/Feb/March (Helps the employee to plan for exemption).
3. The employee can also accumulate the amount for 2 years.
Regards,
Abhiman
From India, Bangalore
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LTA could be paid:
1. every month as a breakup of the salary, but the amount considered for tax exemption will be only for the bill produced by the employee.
2. The amount could be paid during Jan/Feb/March (Helps the employee to plan for exemption).
3. The employee can also accumulate the amount for 2 years.
Regards,
Abhiman
From India, Bangalore
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Employee Benefits.doc
Employee Benefits.zip