1. #1
    Unregistered

    Details about Leave Travel concession

    I have just joined my new job in a software company. Our company provides us many perks and one of them being LTC- Leave Travel Concession. I donít have any idea about the same . I have tried to ask from many of my colleagues but without any satisfactory reply. Please can you provide me all the details regarding LTC.

  2. #2
    sagar R. Array
    Join Date
    Oct 2012
    Posts
    106

    Re: Details about Leave Travel concession

    You are right.LTC - Leave travel concession is very important for employee to understand.
    Employee gets many benefits from it.
    Below , LTC detail is given


    Detail of LTC - Leave Travel Concession


    In the leave travel concession , you can get travel allowance.
    For that , you have to submit the ticket of airplane or travel or bus or public transport in which you have travelled.
    you will get that travel allowance.In that travel allowance , eating or any other cost is not included.
    if you not utilize your leave travel allowance , then it will added in your entire salary & have to pay tax for that salary.
    So , By claiming travel allowance , you can get tax benefits that covers your holiday expense.
    Mostly , you can claim twice in the calendar year
    In the leave travel allowance , the person who dependent you are covered only such as your parents , your sibling , children.
    Your family also can travel without you & claim for leave travel allowance.
    leave travel allowance only within our country.It is not international.

    In any company , LTC also having some limit to claim.
    Example , if LTC is only Rs.20,000 , then you can only claim for Rs.20,000 even you spend Rs.30000.

  3. #3
    chanchal Array
    Join Date
    May 2013
    Posts
    355

    Re: Details about Leave Travel concession

    Quote Originally Posted by Unregistered View Post
    I have just joined my new job in a software company. Our company provides us many perks and one of them being LTC- Leave Travel Concession. I donít have any idea about the same . I have tried to ask from many of my colleagues but without any satisfactory reply. Please can you provide me all the details regarding LTC.

    Hello Aspirant,

    Employees both in pvt.& govt.sectors get many benefits & perks during their job.Among those benefits there is a benefit called LTC,leave Travel Concession.As its name indicates concession in travel is allowed according to level of status of the employment.Some employees are eligible to travel by Air,some are by train in A/c two tier,A/c three tier,sleeper class,reserved taxi reserved Auto etc.

    The employees are eligible to avail LTC after certain period of service.Generally it is after 10 years of continuous service.It is allowed in every 4 years of service after completion of first 10 years of service.I mean one can avail LTC after completion of 14 years.

    The employee can go on tour to any where in India along with his/her family memebers which include wife/husband,father,mother,dependent children.The employees are reimbursed the actual eligible fares paid for travelling from work place to the fixed destination.suppose one decide to travel from Patna to Rameshwaram,the emploes will be paid to & fro fare paid as per the eligibility on submission of travelling allowance bill along with ticket.

    One employee can avail this facility maximum of three to four times in whole service.

    So you should enquire of the manager HR or manager account about the details of LTC applicable in your company.

    Good luck.



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