LTA is Leave Travel Allowance. Merce offers Leave Travel Allowance as an annual benefit to all employees, annualised as per the company's financial year calendar.
This is payable only to those who are employed for the full financial year. If you are employed on 31 March of any year, then you will get the LTA as specified in your terms of employment. If you resign in the middle of a financial year, you will not get any LTA for your last financial year with Merce. If your last working day is 15 March of a financial year, you will not get any LTA for that financial year.
If you join in the middle of an FY, and continue in Merce's employment till the end of the FY, you will get LTA proportionate to the number of days you have been with Merce in that FY.
In short, LTA is payable every FY by looking at the list of employees who were employed on 31 March of that FY.
This note helps to clarify the company policy on paying LTA.