Warning: preg_match(): Unknown modifier 'p' in [path]/showthread.php on line 2297

Warning: preg_match(): Unknown modifier 'p' in [path]/showthread.php on line 2298

Warning: preg_replace(): Empty regular expression in [path]/showthread.php on line 2381

Warning: preg_replace(): Empty regular expression in [path]/showthread.php on line 2381

Warning: preg_replace(): Empty regular expression in [path]/showthread.php on line 2381
Full & Final Settlement Of LTA - CiteHR

No Tags Found!

SH

Shai89308

Executive Hr

AS

Ammu Shanvi

Human Resource

GS

G SHASHI KRISHNA

Senior Manager - Hr

AH

Aizant HR

Human Resources

MA

MARSHAL

Safety Officer

AK

Anish Katoch

Hr Executive

PR

PranjalR

Hr Recruiter

AP

Alka Pal

Hr Executive

Karthikeyan8195

Management Consultant

MK

Mohit Kumar Puri

Head Marketing

AU

Austex

Accounts Manager


Sushil_Kumar
Hi
One of the employee is leaving the organisation and he has accumulated LTA which he has not claimed yet. His LTA entitlement is Rs.20,000/- per year which is part of CTC. As per his joining & leaving date I have calculated LTA as follows.
LTA calculation
17-31st March-10 20000/12*15/31 Rs. 806
April-10 to March-11 20000 Rs. 20,000
1-12th April -11 20000/12*12/30 Rs. 667
Total Rs. 21,473
I have following questions.
1. Is above calculation correct.
2. If in any month employee had LWP then should we deduct applicable amount for these LWP days from his eligible amount of LTA.
3. Do we need to pay this as ex-gratia or as taxable LTA as employee is not going to submmit any bills.
4. How this will be presented in form 16.
5. in accounting how it will be treated.
6. Any other suggestions from members.
Thanks & regards
Sushil

From India, Mumbai
pon1965
604

If it is part of CTC, prorata calculation of LTA considering his LWP days is to be made. It is taxable income at the hands of employee and TDS shall be made accordingly. pon
From India, Lucknow
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.




About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.