Leave Travel Concession Cash Benefit Scheme for Central Government Employees
A simple online calculator for finding the maximum amount to avail complete cash benefit from this Special Cash Package Scheme on Leave Travel Concession.
Click to Calculate Your Cash Benefit
What is LTC Cash Voucher Scheme? and How to calculate LTC Cash Voucher amount?
Example for Calculation:
Pay of an employee: Rs 1,38, 500 and has family of 4 eligible for economy class air travel.
- Leave encashment (1,38,500 x 1.17) x10/30 = Rs. 54,015
- Fare Value: Rs. 20,000 x 4 = Rs. 80,000
- Total Value: = Rs. 1,34,015
- Amount to be spent for full cash benefit = Rs. 54,015 + 2,40,000*= Rs. 2,94,015
- (a) Share of Leave Encashment in total = 54,015 X 100 / 2,94,015 = 18%
- (b) Share of Fare in total = 80,000 X 100 / 2,94,015 = 27%
- * 3 times of notional airfare (80,000 x 3 = 2,40,000)
- Thus, if an employee spends Rs. 2,94,015 or above, he will be allowed cash amount of Rs. 1,34,015.
- However, if the employee spends Rs. 2,40,000 only, then he may be allowed 18 % on account of Leave Encashment (Rs. 43,200) and 27% on account of fare value (Rs. 64,800). The total amount payable shall be Rs. 1,08,000.
Illustrations for all Pay Matrix Levels on LTC Cash Benefit Scheme for CG Employees
Illustration for LTC Voucher – Pay Matrix Level 1
Pay Level 1 and Basic Salary Rs. 18000 (Eligible Rs. 6000)
- Members 2: Maximum Claim Rs. 19,020
- Members 3: Maximum Claim Rs. 25,020
- Members 4: Maximum Claim Rs. 31,020
- Members 5: Maximum Claim Rs. 37,020
- Members 6: Maximum Claim Rs. 43,020
Illustration for LTC Voucher – Pay Matrix Level 2
Pay Level 2 and Basic Salary Rs. 19900 (Eligible Rs. 6000)
- Members 2: Maximum Claim Rs. 19,761
- Members 3: Maximum Claim Rs. 25,761
- Members 4: Maximum Claim Rs. 31,761
- Members 5: Maximum Claim Rs. 37,761
- Members 6: Maximum Claim Rs. 43,761
Illustration for LTC Voucher – Pay Matrix Level 3
Pay Level 3 and Basic Salary Rs. 21700 (Eligible Rs. 6000)
- Members 2: Maximum Claim Rs. 20,463
- Members 3: Maximum Claim Rs. 26,463
- Members 4: Maximum Claim Rs. 32,463
- Members 5: Maximum Claim Rs. 38,463
- Members 6: Maximum Claim Rs. 44,463
Illustration for LTC Voucher – Pay Matrix Level 4
Pay Level 4 and Basic Salary Rs. 25500 (Eligible Rs. 6000)
- Members 2: Maximum Claim Rs. 21,945
- Members 3: Maximum Claim Rs. 27,945
- Members 4: Maximum Claim Rs. 33,945
- Members 5: Maximum Claim Rs. 39,945
- Members 6: Maximum Claim Rs. 45,945
Illustration for LTC Voucher – Pay Matrix Level 5
Pay Level 5 and Basic Salary Rs. 29200 (Eligible Rs. 6000)
- Members 2: Maximum Claim Rs. 21,388
- Members 3: Maximum Claim Rs. 29,388
- Members 4: Maximum Claim Rs. 35,388
- Members 5: Maximum Claim Rs. 41,388
- Members 6: Maximum Claim Rs. 47,388
Illustration for LTC Voucher – Pay Matrix Level 6
Pay Level 6 and Basic Salary Rs. 35400 (Eligible Rs. 6000)
- Members 2: Maximum Claim Rs. 25,806
- Members 3: Maximum Claim Rs. 31,806
- Members 4: Maximum Claim Rs. 37,806
- Members 5: Maximum Claim Rs. 43,806
- Members 6: Maximum Claim Rs. 49,806
Encashment of Leave Online Free Calculator
LTC Cash Voucher Calculation Formula 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…[Click to read in detail]
LTC Cash Voucher Scheme FAQ No 1 Whether the individual employee is required to take leave to avail of this LTC- Cash Voucher Scheme? An individual need not take leave for this purpose nor undertake any travel. This is a scheme in lieu of LTC travel. [Click to read in detail]
LTC Cash Voucher Scheme FAQ No 2 An employee whose workplace and hometown are the same and is eligible for only one all India LTC in one Block Year. If that LTC is exhausted, will he be eligible for this scheme? [Click to read in detail]
LTC Cash Voucher Scheme FAQ No 3 An employee wishes to avail of the special cash package without opting for leave encashment. As per records, he has sufficient EL for encashment purposes. Whether an employee can only avail of LTC fare without claiming Leave encashment even though he has not exhausted the prescribed limit for leave encashment for LTC? [Click to read in detail]
LTC Cash Voucher Scheme Application Form Leave Travel Concession (LTC) Cash Voucher Scheme 2020 Application Form Application Form for Special Cash Package in Lieu of LTC [Click here to download form]
The Central Government has recently announced a new cash benefit scheme for Central Government employees in lieu of Leave Travel Concession.
The employee spends the money of a larger sum than the entitlement on account of LTC on actual expenditure. Cash equivalent of full leave encashment will be allowed, provided the employee spends an equal sum. This will be counted towards the number of leave encashment on LTC available to an employee.
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