Dear Friends,
I want to know about LTA (Leave Travel Allowance) contribution. For example, if my gross salary is 45,000, then my basic would be 13,500, HRA 5,400, Conveyance 800, Medical 1,250, and LTA - ?. Please let me know how to calculate the LTA contribution percentage.
Thank you.
From India, undefined
Acknowledge(0)
Amend(0)
I want to know about LTA (Leave Travel Allowance) contribution. For example, if my gross salary is 45,000, then my basic would be 13,500, HRA 5,400, Conveyance 800, Medical 1,250, and LTA - ?. Please let me know how to calculate the LTA contribution percentage.
Thank you.
From India, undefined
Acknowledge(0)Amend(0)
LTA is not calculated as a percentage of salary, but it is an amount equal to one month/two months of basic salary and is paid once a year. In your case, there is a salary mismatch because the total of basic, HRA, conveyance, and medical allowance amounts to Rs 20950. By adding the monthly element of one month's basic salary for a year, i.e., 13500/12, you only get Rs 1125, which is insufficient to fill up the gap. Please check the components once more and revert.
Madhu.T.K
From India, Kannur
Acknowledge(1)
Amend(0)
4519Madhu.T.K
From India, Kannur
Acknowledge(1)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
SALARY SHEET CALCULATION.xls
Salary calculation.doc