No Tags Found!

If LTA Medical is a part of CTC after resignation without service confirmation can I claim my LTA Medical? As the company denied. I was completed 1 year in my previous company. As the company told they don't have policy without confirmation job me not applicable for the same
From India, Ahmedabad

There are no legal provisions concerning this provision, so it depends on the company rules/policy in this regard. If there is a provision that the benefit is admissible only to the confirmed employee, then it has to be so.
Being made a part of CTC does not mean it has to accrue, CTC is a misleading concept, the effort on the part of the company is to project it by including as many items as possible, including future entitlements like gratuity or other entitlements coming after spending a definite period of service. Employees may not be getting in hand many such benefits, for instance, the insurance premium paid by company will be a part of CTC but the employee is actually not paid the amount.

From India, Mumbai

As Mr KK expressed, there are no legal sanctity for reimbursing LTA and Medical. Gratuity which is also a part of CTC, being paid as per the provisions of the Payment of Gratuity Act, 1972, will not be considered if someone leaves before putting 5 years continuous service. In the instant situation, if an employee leaves the services of the Company in the first year itself and will he be eligible to claim LTA and Medical is a policy decision. Some companies will consider as a principle. Most of the companies will not consider since the employee has not completed one year of service itself.
From India, Madras
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.

Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR

All Copyright And Trademarks in Posts Held By Respective Owners.