Hi,
My current employer is a pvt. ltd. company with 90+ employees.
In the CTC break up, the company is adding the employer PF Contribution amount.
Example:
Basic 1,60,000
HRA 80,000
Conveyanc 9,600
Medical 15,000
Special Allowance 1,16,200
Employer Provident Fund 19,200
Total CTC 4,00,000
Is this break up correct.
Please help me to understand.
Thanks
From India, Chennai
2My current employer is a pvt. ltd. company with 90+ employees.
In the CTC break up, the company is adding the employer PF Contribution amount.
Example:
Basic 1,60,000
HRA 80,000
Conveyanc 9,600
Medical 15,000
Special Allowance 1,16,200
Employer Provident Fund 19,200
Total CTC 4,00,000
Is this break up correct.
Please help me to understand.
Thanks
From India, Chennai
Hi, Yes its correct what is the meaning of CTC(cost to company) it means whatever the company spends money on employees that comes under in CTC.
From India, Mumbai
From India, Mumbai
yes this is correct because CTC mean cost to company in which include all tips of benefit.
From India, Gurgaon
From India, Gurgaon
Yes! this is correct. CTC means COST TO COMPANY.
But dear friends, kindly enlighten our readers whether only that part of the CTC like the employers contribution of PF should get reflected in the CTC details provided to the employee? To tell you the fact, it is one of the many HR strategy to show Cost Cutting/effectiveness in their personal KRA's. Otherwise, why should the other details of employers cost on the employee which should feature in the CTC not shown or provided to the employee. Friends do not be beguiled. Employers will continue to show (and legally correctly also- whether morrally or ethically too is a question mark) such scattered CTC. So in future do not ask for your CTC because it is not actually your, it is the employers CTC. Rather ask for your THP- Take home pay and you will stay benifitted.
From India, Kolkata
But dear friends, kindly enlighten our readers whether only that part of the CTC like the employers contribution of PF should get reflected in the CTC details provided to the employee? To tell you the fact, it is one of the many HR strategy to show Cost Cutting/effectiveness in their personal KRA's. Otherwise, why should the other details of employers cost on the employee which should feature in the CTC not shown or provided to the employee. Friends do not be beguiled. Employers will continue to show (and legally correctly also- whether morrally or ethically too is a question mark) such scattered CTC. So in future do not ask for your CTC because it is not actually your, it is the employers CTC. Rather ask for your THP- Take home pay and you will stay benifitted.
From India, Kolkata