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Dear All, Can anyone pls let me know the difference between CTC and gross salary in detail. Its very confusing.. Regards, Alka
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Dear Alka,
CTC (Cost to Company) means every single penny spent by the company on the employee i.e if you even have a coffee in your office the cost of it will be added in your remuneration, likewise transportation, gratuity and other benefits where as Gross salary include net salary + PF.
Please see the attachment for reference.
Suggestion: Always negotiate your salary on Gross rather than on CTC
CTC (Cost to Company) means every single penny spent by the company on the employee i.e if you even have a coffee in your office the cost of it will be added in your remuneration, likewise transportation, gratuity and other benefits where as Gross salary include net salary + PF.
Please see the attachment for reference.
Suggestion: Always negotiate your salary on Gross rather than on CTC
Gross Salary means : Basic + DA/HRA + Conv PF is deducted from Gross Salary Net Salary : Gross salary - PF, advance, etc. MANOKAVIN
Dear Alka,
CTC means Cost to the Company, which includes of all the cash benifts you get from the company per annum (Inclusive of Statutory benifits) Whereas the Gross means Monthly Gross Salary which is inclusive of your side P.F. and Professional Tax
CTC means Cost to the Company, which includes of all the cash benifts you get from the company per annum (Inclusive of Statutory benifits) Whereas the Gross means Monthly Gross Salary which is inclusive of your side P.F. and Professional Tax
Alka,
Gross Salary consists of all earning components, such as BASIC, HRA, DA, CCA and other allowances
Net Salary is Gross Salary LESS deductions, such as PF, ESIS, Professional Tax, TDS etc
Cost to company is Gross Salary PLUS contributions such as company's contribution to PF, ESIC, Gratuity, Superanniation, medical insurance etc PLUS the value of perquisites, such as Car, House and other non-cash benefits.
Archana
Gross Salary consists of all earning components, such as BASIC, HRA, DA, CCA and other allowances
Net Salary is Gross Salary LESS deductions, such as PF, ESIS, Professional Tax, TDS etc
Cost to company is Gross Salary PLUS contributions such as company's contribution to PF, ESIC, Gratuity, Superanniation, medical insurance etc PLUS the value of perquisites, such as Car, House and other non-cash benefits.
Archana
Dear All, Thank you so much for your valuable replies.. Its really helpful..now the difference is clear to me.. Thank you so much once again. Regards, Alka
In this I am having that doubt in Payroll process Pls clarify,
A Emp getting the salary of Rs.10000 per month (Basic 4000, DA 1500, HRA 1200, Perks 1300, Med Allo 1000, Other Allo 1000) Here the normal working days is 26 /Month v have taken into working days.
If the employee's Workg Days is 10 means normally we can calculate (10000/26)*10 (if there is no Leave Benefits & No other Benefits) Is it not?
But my Quest is How can v break up the 10 days salary?
how v deduct the LOP amt from above mentioned Heads?
How much v have to take for PF?
Clarify any one pls?
Regards,
Sukumar
9842023923
A Emp getting the salary of Rs.10000 per month (Basic 4000, DA 1500, HRA 1200, Perks 1300, Med Allo 1000, Other Allo 1000) Here the normal working days is 26 /Month v have taken into working days.
If the employee's Workg Days is 10 means normally we can calculate (10000/26)*10 (if there is no Leave Benefits & No other Benefits) Is it not?
But my Quest is How can v break up the 10 days salary?
how v deduct the LOP amt from above mentioned Heads?
How much v have to take for PF?
Clarify any one pls?
Regards,
Sukumar
9842023923
Dear all
please the hare the LOP calculation.
Thanks
Pramod
please the hare the LOP calculation.
Thanks
Pramod
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Listed Under medical insurance professional tax net salary leave benefits payroll process cost to company Country-India City-India-Delhi
Difference between CTC & Grosss.pdf
People make the difference….ppt
