LTC cash voucher scheme Ready reckoner – Pay level 1

Ready reckoner for LTC cash voucher scheme – Pay level 1

Introduction of LTC cash voucher scheme

The Government has released O.M of even no. dated 12th October 2020 regarding LTC cash voucher scheme for the government employees to purchase goods and services in place of the tax-exempt portion of the LTC. This order effective from the current financial year till 31st March, 2021. According to the order, employees can claim tax exemption on the travel fare encashed if the amount is spent by satisfying specified conditions. 

The government recently answered and clarified to the important queries regarding the scheme. Here we attached the brief FAQ of LTC cash voucher scheme.(See Order)

 

LTC Cash voucher scheme calculator:

LTC special package brings along with some conditions to avail the opportunity to benefit the employees. The deemed LTC fare (per person per round trip) has been fixed based on employee’s travel mode eligibility in three slabs of Rs 6000, 20000 and 36000.

Here is the calculator to help the central government employee to compute the special package in lieu of LTC according to their pay level, basic pay and category. Based on the eligibility of employee the following calculator has been designed. This calculator is used to evaluate your maximum expenditure and refundable amounts. You can also evaluate approximately, the refundable amount based on your actual expenditure. (Calculate here)

Ready reckoner – Pay level 1

Here we have given Ready reckoner for Pay level 1 employees to understand in a better way according to their basic pay (Pay matrix) and number of family members,  Here you can refer maximum limit of expenditure and claiming amount. If the employee spends less than the maximum limit then the claiming amount will differ based on the actual amount spent by him/her. You can find out the actual amount by entering the exact or actual expenditure in the calculator.

 

Disclaimer: The above information is not intended to provide the exact information regarding the LTC cash voucher scheme. The empoyees are advised to check out the Government O.M and Recently published FAQs clarified by the Ministry.