Training And Development
Hr & Admin
Finance, Marketing And Hr
17th November 2008 From India, Ahmadabad
1. Allowances like
a. Children education allowances, hostel subsidy, etc.
b. News paper / periodical allowances
c. Washing allowances
d. Tea / coffee / refreshment reimbursement
2. If company provides housing & vehicle advances then it might have less interest rates (than market / external bank rates). This advantage in interest is considered as an income and so, considered for CTC also.
3. Medical allowances / insurances & related expenses. Here also, every company has laid down margins. Some say unlimited. Some say Rs.15,000 and anything above this as taxable. Some may have other formats for disbursing this benifit.
4. Apart from bonus, performance linked incentives (which are calculated on the basis of your reviewer's rating with respect to your appraisal) are also considered.
5. Leave travel allowances.
6. Regular uniforms / boiler suits / safety shoes / regular shoes, if provided by the company. All these are considered.
7. Similar to housing and vehicle advances, some company have schemes of providing furniture / households and PC / Laptops on hire basis wherein the employee has to buy back these after a certain perion of time. Advantage of interests here are also considered.
8. Expenses for maintenance / upgradation of above are also provided by some companies and are considered for CTC.
Yet, there may be other considerations too beyond these. Can anyone share any comprehensive derivation of a typical CTC ? I need one badly. Guys, help me.
24th November 2008 From India, Delhi
Thanks for CTC details... Whether Performance pay or incentives are also part of CTC?If yes, its quite possible that an employee will not get certain amount since he/she has not performed right>?
Whether GRATUITY is also part of CTC? Which as per Gratuity Act payable only after 5 yrs. right?
EXECUTIVE - HR
SAPAT INTERNATIONAL PVT. LTD.
16th December 2008 From India, Mumbai