Dear All,
I joined my first job after my graduation in September 2006. I had an LTA component in my salary. I resigned from that organization in November 2007. During this period, I did not claim my LTA (no time for a holiday). In my full and final settlement, the organization didn't give me the LTA for the 15 months I was with the organization. I joined a new organization in December 2007 and have been working there since. I also have an LTA component in my current salary. How can I claim my LTA (amount around Rs. 25K) for the period from September 2006 to November 2007 with my last employer? Who will pay me the money, my last employer or present employer? I also need to claim my LTA from the current organization. Can I claim one big amount (September 2006 to December 2008)?
Please help me in this regard.
Thanks in advance.
From India, Indore
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I joined my first job after my graduation in September 2006. I had an LTA component in my salary. I resigned from that organization in November 2007. During this period, I did not claim my LTA (no time for a holiday). In my full and final settlement, the organization didn't give me the LTA for the 15 months I was with the organization. I joined a new organization in December 2007 and have been working there since. I also have an LTA component in my current salary. How can I claim my LTA (amount around Rs. 25K) for the period from September 2006 to November 2007 with my last employer? Who will pay me the money, my last employer or present employer? I also need to claim my LTA from the current organization. Can I claim one big amount (September 2006 to December 2008)?
Please help me in this regard.
Thanks in advance.
From India, Indore
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LTA stands for Leave Travel Allowance. How can you claim LTA if you have not undertaken any travel? How can you ask for the same from the past employer when you had already received your settlement? No, you cannot claim it even if it is stated in your CTC. CTC is only a composition of how much the company will cost by employing you. CTC does not necessarily mean that the amount stated should be paid to you, but it is a projected amount that tells the costs to the company.
If you have LTA in your present company, utilize it by traveling with your family members. Do not waste it. LTA will not accrue automatically; it is just a reimbursement or, I must say, a component of the much trickier practice of new generation employers to attract young guys who are concerned only about the whole figure of salary (the Cost To Company!) and not cautious about what they earn or get monthly!
Regards,
Madhu.T.K
From India, Kannur
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4526If you have LTA in your present company, utilize it by traveling with your family members. Do not waste it. LTA will not accrue automatically; it is just a reimbursement or, I must say, a component of the much trickier practice of new generation employers to attract young guys who are concerned only about the whole figure of salary (the Cost To Company!) and not cautious about what they earn or get monthly!
Regards,
Madhu.T.K
From India, Kannur
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Leave Travel Allowance.doc
The Ins & Outs of Leave Travel Allowance.pdf