If your terms of appointment promises LTA as part of annual package; then you are entitled to claim. Income-tax rules may tax it, but this cannot change employer's obligation. Unless of course the company has decided to cut entitlements, in which case it is a renegotiation of compensation package. I am sure there would be other aggrieved colelagues with you on this. Suggest you discuss with them on what they have done about it. Thereafter discuss it with your superior or director.
regards
shankar
From India, Hyderabad
regards
shankar
From India, Hyderabad
Hi all seniors,
Woking in a real estate sector into residential and commercial projects.
sub: format regarding show cause.
one of employee who is into direct sales and on payroll ofthe company has cheated the organisation.
- he was found in contact with the brokers.
- he used to sale our flats as direct marketing but put the stamps of the broker on the form and submit to the company so that the booking can be booked in broker account.
but somehow we came to know about this ,and know the management wants the justification for the same and have ask to issue a letter.
can anyone of you provide me the format or the drafting for the same.
From India, Delhi
Woking in a real estate sector into residential and commercial projects.
sub: format regarding show cause.
one of employee who is into direct sales and on payroll ofthe company has cheated the organisation.
- he was found in contact with the brokers.
- he used to sale our flats as direct marketing but put the stamps of the broker on the form and submit to the company so that the booking can be booked in broker account.
but somehow we came to know about this ,and know the management wants the justification for the same and have ask to issue a letter.
can anyone of you provide me the format or the drafting for the same.
From India, Delhi
What MR. KAMESH SAYS IS 100% CORRECT, First you check with your HR people and than you decide. Murugan B HR Manager Hospitality Industry
From India, Madurai
From India, Madurai
Mili, LTA is being abused by max. companies now. One has to be very judicious about it. Thats why people are now looking at In-Hand Salary & not at CTC. Regards, Niky
From India, Raigarh
From India, Raigarh
31- Assume that annual LTA committed to you as per appointment letter is Rs. 10000 per year.
- You should get Rs. 10000 every year. It will be taxable twice and tax-free twice in the block of four years, as per income tax rules.
- If company says they will be paying LTA only twice in the block of 4 years under the pretext of income tax provisions then they should pay double i.e. Rs. 20000 twice in the block of four years.
- Company should not bother about income tax. Income tax is paid by employee and not by company. They should pay Rs. 10000 every year as committed, you will end up paying max. income tax of 30% on 10000.
From India, Pune
Dear friend, As per the Rule the Originally LTA block Period is of two year, HR might have made it alternate of one year. you can get a explanation from your department. Ajit
From India, Pune
From India, Pune
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