Meaning of salary for leave travel concession
Answers
Answer:
LTA - Leave Travel Allowance. ... Leave Travel Allowance as the name suggests is an allowance paid to the employee by the employer when the former is traveling with their family or alone. The amount paid as Leave Travel Allowance is tax-free.
Answer:
Leave Travel Concession (LTC), as the name suggests, is a benefit offered to salaried employees that helps them travel domestically. LTC benefits are provided to employees for two trips in a four-year block.
Benefits of Leave Travel Concession:
LTC is added to the salary structure by the employer based on various factors such as title, position, pay scale, etc. The LTC benefits can be availed only if it is a part of the salary structure. You can claim for the LTC when you have traveled alone or when with family as well.
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