Calculation Of Lta [thread 149959] - DOC Download

Dear Friends,
Please tell me method of calculating LTA.Is all the companies having different method to calculate LTA???
Please guide me!!!!
Warm Regards
Pooja

generally LTA has been paid equal to basic salary ...after the completion of one year of service against PL or EL.
suppose the person A has joined the comp in jan 2007 and his basic is 10000/- Pm so after one year of service he can claim for the LTA for Rs.10000/- only against taking the Leave( PL or EL)
but it can be vary frm one comp to another comp .....but the basic idea is ts only ..hope it will help u

Dear Pooja,
m agreed with with abhishek.
It is taken with in block of four years. and u can enjoy two journeys in that block of 4 years. as far as calculation is concerned one month basic salary can be considered.
Also 10% of annual basic can be taken in to consideration.
There is no specific rule that is applicable in all the compnies for LTA. It differs from organisation to organisation. Since you said you are working. You should definitely have employee manual or atleast Rules governing LTA.
In our organisation our LTA was for calender year. I joined this organisation in OCtober of 2008. Since the LTA is for calender year I claimed my LTA for the year 2009 in January itself.
In some organisations it will be clearly written that employee is eligible for LTA only after completion of one year of service.


Regards
Vipin:icon1:

Hi Friends,
I am giving hike to an employee who has completed his probationary period of 6 months and who is now confirmed. The company has decided to add LTA as a salary component. So,
1.Is there any percentage of salary amount that we should give as LTA for an employee? If yes, then what is the statutory rule?
2. Can an employee get LTA amount as part of the salary every month as per the statute?
warm Regards
Gaury

Hi,
As per I.T.guidelines, the max. limit of LTA is 2 months basic and exempted I.T. two yeras in a bock years of four.