Hi,
This is my first job in an IT company and in my CTC there is an LTA component under flexible benefits.It amounts to Rs50000.
I am very much confused by this component and wish to know that if I donot go on travel leave(i.e. donot avail LTA), will I get the amount set for LTA after taxation or will it be retained by the company and whether this rule is uniform across all IT companies.
I have followed multiple forums but the responses are ambiguous with some saying that the amount resides with the employee on non-avail also and others saying it goes to the organization.
Please clarify my concern as it shall guide my joining the job.
Regards,
Sainnni
This is my first job in an IT company and in my CTC there is an LTA component under flexible benefits.It amounts to Rs50000.
I am very much confused by this component and wish to know that if I donot go on travel leave(i.e. donot avail LTA), will I get the amount set for LTA after taxation or will it be retained by the company and whether this rule is uniform across all IT companies.
I have followed multiple forums but the responses are ambiguous with some saying that the amount resides with the employee on non-avail also and others saying it goes to the organization.
Please clarify my concern as it shall guide my joining the job.
Regards,
Sainnni