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How to define Leave Travel Allowance (LTA) element for India Payroll
Leave Travel Allowance (LTA) is paid to employees every month.Based on the bills produced, certain amount is exempt from taxation.
I want to configure this LTA element in Oracle such that the fixed monthly amount gets processed every month as taxable income.
Also, I want this element to be a recurring element with Standard Link so that it gets attached to all employees.
- When I try to setup the element using Element Design Wizard in India HRMS Manager responsibility, the element gets created as non-recurring element ( even if I select recurring when creating the element).
- I have used Earning as the Classification and Leave Travel Concession as Calculation rule. Is this correct?