The full form of TA is Travelling Allowance. It is a type of fund that pays a specific amount to the workers by their company. Moreover, as the name suggests, Travelling Allowance is generally given during a business trip to cover transportation expenses. In some cases, it can also include hotel bills, meals, and the price of flight tickets. It should be noted that TA can vary depending on the policies of companies.
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How is TA Calculated?
The calculation of TA or Travelling Allowance depends on different factors which depend on the company. It generally includes the mode of transportation, purpose of the trip, duration of the trip, and the distance to be covered. In some cases, organizations cover everything from transportation costs to accommodation and daily allowances for meals and other similar things.
In addition to this, employers are often required to show their receipts and expense reports which are then reviewed and approved by the employer accordingly.
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Types of Allowances
Here is a list of the different types of allowances that employees generally receive from companies.
|Types of allowance||Description|
|Dearness Allowance||It is given to employees in addition to the basic salary to manage inflation.|
|Medical Allowance||It covers the medical expenses incurred by the employee.|
|Overtime Allowance||It is granted to employees to work beyond their general shift.|
|Meals Allowance||It is granted when the employer pays for the employee’s meals.|
|Transport allowance||It covers the travel expenses incurred on any business trip by the employee.|
|Entertainment Allowance||It is given to meet the expenses incurred on attending and hospitality in receiving customers.|
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