Hi friends,
I would like to know the general rules regarding payment of Leave Travel Allowance.
An employment contract I read says "LTA is only payable for the completion of each full year of employment and will not be prorated in the event you do not complete a full calendar year."
Suppose if the employee leaves the company after 11 months or after 23 months? Is he not entitled for the previous years' accrued LTA. The company also mentioned they will not pay LTA on monthly basis but will pay for 2 years at a time due to IT rules.
Is this the norm, or there's something fishy here?!
Thanks in advance for your clarifications!!!
I would like to know the general rules regarding payment of Leave Travel Allowance.
An employment contract I read says "LTA is only payable for the completion of each full year of employment and will not be prorated in the event you do not complete a full calendar year."
Suppose if the employee leaves the company after 11 months or after 23 months? Is he not entitled for the previous years' accrued LTA. The company also mentioned they will not pay LTA on monthly basis but will pay for 2 years at a time due to IT rules.
Is this the norm, or there's something fishy here?!
Thanks in advance for your clarifications!!!