LTA Payment Confusion: Should It Be for Completed Months or Pro-Rata Until Last Day?

I was with a company for a little less than 2 years. As part of my full and final settlement, I was told that LTA, which was part of my CTC, is payable for completed months only. Is LTA payable for completed months only or on a pro-rata basis till the last working day? Please advise.

The concept of CTC has no standing in law, so none of the laws have any impact on it, except to some extent the Contract Act. It is therefore left to the company's discretion how much to give. Most companies would not even provide the LTA as a part of the F&F. So you should simply accept the "completed months" working and be thankful you are receiving it.