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LTC Cash Voucher Calculation Formula 2025

January 22, 2025 admin 1 Comment

LTC cash voucher calculation for without leave encashment – Example with Calculator

The Leave Travel Concession (LTC) Cash Benefit Voucher Scheme is a little bit confusing on the calculation with or without encashment. As per the recent clarification issued by the Department of Expenditure on 25 November 2020, the lesser amount between actual expenditure and notional fare only will be taken for the account of the full cash benefit. The below table describes the full cash benefit for all categories.

Category2 MembersFull Cash Benefit
6,00012,00036,000
20,00040,0001,20,000
36,00072,0002,16,000
Category3 MembersFull Cash Benefit
6,00018,00054,000
20,00060,000180,000
36,000108,000324,000
Category4 MembersFull Cash Benefit
6,00024,00072,000
20,00080,000240,000
36,000144,000432,000
Category5 MembersFull Cash Benefit
6,00030,00090,000
20,000100,000300,000
36,000180,000540,000
Category6 MembersFull Cash Benefit
6,00036,000108,000
20,000120,000360,000
36,000216,000648,000
Category7 MembersFull Cash Benefit
6,00042,000126,000
20,000140,000420,000
36,000252,000756,000
Category8 MembersFull Cash Benefit
6,00048,000144,000
20,000160,000480,000
36,000288,000864,000
Category9 MembersFull Cash Benefit
6,00054,000162,000
20,000180,000540,000
36,000324,000972,000

LTC Cash Voucher Calculation Formula

LTC Cash Benefit = Amount Spend x Deemed LTC Fare / Amount to be Spent for Full Cash Benefit

LTC Cash Voucher Benefit Calculator 2025

Example (1) (without Leave Encashment)

Claiming for family of 4 eligible for economy class air travel.

Fare Value : Rs.20,000 x 4 = Rs.80,000

Amount to be spent for full cash benefit = Rs.80,000 x 3* = Rs.2,40,000

  • 3 times of notional airfare (80,000 x 3=2,40,000)

Cash benefit = Amount Spent X deemed LTC (80,000 in this case)/ Amount to be spent for full cash benefit

Thus, if an employee spends say Rs.2,40,000 or above, he will be allowed cash amount of Rs.80,000. However, if the employee spends less than Rs.2,40,000, say 1,80,000 then he may be allowed cash amount in the same proportion as illustrated above which comes out Rs.60,000 in this case.

[1.80,000 x 80,000 = 60,000] / 2,40,000

Example (2) (without Leave Encashment)

Claiming for family of 4 eligible for Train travel.

Fare Value : Rs.6,000 x 4 = Rs.24,000
Amount to be spent for full cash benefit = Rs.24,000 x 3* = Rs.72,000

Cash benefit = Amount Spent X deemed LTC Fare (24,000 in this case)/Amount to be spent for full cash benefit

  • 3 times of notional trainfare (24,000 x 3=72,000)

Thus, if an employee spends Rs.72,000 or above, he will be allowed cash amount of Rs.24,000. However, if the employee spends less than Rs.72,000 say 48,000 then he may be allowed cash amount in the same proportion as illustrated above which comes out Rs.16,000 in this case.

[(48,000 x 24,000/72,000) = 16,000].

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Filed Under: LTC, LTC Cash Voucher Calculator, LTC Special Cash Package

Comments

  1. Cherry says

    February 25, 2021 at 2:14 pm

    In voucher, is it compulsary to give our office gst no?

    Reply

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