How Do I Calculate LTA and Medical Reimbursement for Employees Joining Before April 2012?

Calculation of LTA and Medical Reimbursement

How do I calculate LTA and Medical Reimbursement if the individual joined before 1st April 2012 and the date of joining is 24th November 2011?

LTA = 200
Medical = 200

Thank you,
SHR

Your question is not clear. What exactly do you want to calculate?

LTA and Medical Reimbursement Details

Normally, LTA is 5% of the basic amount of salary, and Medical is Rs. 1250 per month. Both amounts are taxable if paid monthly as a salary component.

[QUOTE=Mayur Shinde, HR; 2057950]

Shraddha, your question is not clear. What exactly do you want to calculate? Normally, LTA is 5% of the basic amount of salary, and Medical is Rs. 1250/- per month (both amounts taxable if paid monthly as a salary component).

Thank you for the information. Actually, my question was regarding the earlier problem in which I had mentioned that I need to calculate LTA. I require the formula to calculate that.

Thank you.

I would like to make a small correction. If they submit the bills for medical reimbursement (Rs. 1250/-), it's non-taxable. Regarding LTA, it differs from organization to organization. Some companies give a maximum of 10% of the basic amount. You can claim the LTA benefit only twice during a block of 4 years. For this purpose, the following conditions should be satisfied:

- You should be on leave.
- You should travel anywhere in India.
- During such travel, you may have your family with you.
- Family includes spouse, children, dependent parents, brothers, and sisters.
- Only travel bills get tax exemption.

Regards,
Srini