Understanding LTA Benefits: How Does Your Company Handle Leave Travel Allowance?

Many companies are offering LTA benefits to their employees. I attach herewith a sample LTA application form, which may be useful. 

Thank you.

Hi,

I wanted to understand how LTA and Bonus work in any company.

My question is: Are LTA and Bonus a part of the CTC, and can they be added to the CTC during the increment and reduce the take-home pay of an employee, or are they perks provided by the company to the employee?

Is there any law pertaining to this? If so, kindly suggest.