Kindly provide me with the details about LTA. Who all are eligible to take the LTA? How many percentages of their salary are paid as LTA? Does LTA calculation vary from company to company? Especially how it works in private sectors. Kindly brief it.
From India, Chennai
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From India, Chennai
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Dear Ms. Kiran,
LTA - Leave Travel Allowance. Yes, it varies from company to company depending on the policy of the organization. Per the appointment letter agreement, after completion of 1 year, an employee will be eligible for LTA. To avail of this benefit, the employee must take a leave of 5-7 days and show their travel ticket (in some companies). Some companies grant LTA only after the employee shows a minimum leave of 5-7 days.
Usually, it is 4 or 5% of the basic salary and DA, along with any other allowances, to retain the employee.
I hope this information helps.
Thank you.
From India, Kolkata
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15LTA - Leave Travel Allowance. Yes, it varies from company to company depending on the policy of the organization. Per the appointment letter agreement, after completion of 1 year, an employee will be eligible for LTA. To avail of this benefit, the employee must take a leave of 5-7 days and show their travel ticket (in some companies). Some companies grant LTA only after the employee shows a minimum leave of 5-7 days.
Usually, it is 4 or 5% of the basic salary and DA, along with any other allowances, to retain the employee.
I hope this information helps.
Thank you.
From India, Kolkata
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Dear Kiran,
My friend Mr. A has clearly pointed out your query. In addition to this, I would like to state and explain more on this topic.
LTA is given so that employees can take time off and spend some quality time with their family or loved ones at their native place/hometown. The number of PL days to be taken to claim LTA depends on the company's leave policy. In many companies, LTA is given as one month's basic salary. In other companies, LTA is provided based on the designation and company policy.
The eligibility to claim LTA varies from company to company. It is a standard practice in most companies that employees become eligible for LTA after completing one year in the organization from the date of joining. Proof submission is not required for claiming LTA, and employees can claim it once every two years.
Kind regards,
[Your Name]
From India, Mumbai
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My friend Mr. A has clearly pointed out your query. In addition to this, I would like to state and explain more on this topic.
LTA is given so that employees can take time off and spend some quality time with their family or loved ones at their native place/hometown. The number of PL days to be taken to claim LTA depends on the company's leave policy. In many companies, LTA is given as one month's basic salary. In other companies, LTA is provided based on the designation and company policy.
The eligibility to claim LTA varies from company to company. It is a standard practice in most companies that employees become eligible for LTA after completing one year in the organization from the date of joining. Proof submission is not required for claiming LTA, and employees can claim it once every two years.
Kind regards,
[Your Name]
From India, Mumbai
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Hello all,
Please clarify my query. One of our employees was on leave from 9th Dec 2014 to 11th Dec 2014. She has provided me with flight tickets for 9th Dec from Pune to Delhi and return tickets for 12th Dec. Since she only took three days of leave and worked from home on the 12th Dec, my question is: should I also consider her return tickets?
Please guide me.
From India, Mumbai
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Please clarify my query. One of our employees was on leave from 9th Dec 2014 to 11th Dec 2014. She has provided me with flight tickets for 9th Dec from Pune to Delhi and return tickets for 12th Dec. Since she only took three days of leave and worked from home on the 12th Dec, my question is: should I also consider her return tickets?
Please guide me.
From India, Mumbai
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Leave Travel Allowance.doc
The Ins & Outs of Leave Travel Allowance.pdf