Hr & Administration
PRAHALATHA RAO N V
Finance, Payroll & Taxation
Gross Pay - Deductions = Net Pay (Cash in Hand or Take Home)
Gross Pay (inclusive of all) + All employer contribution = CTC ( means Cost to Company, your employer will spend a single money on you other than CTC).
15000 Gross Pay
- 200 PF
- 200 ESI
- 200 PT
= 14, 400/- is Net Pay
Now 15000 + employer pf contribution+ employee contribution esi = CTC
8th September 2010 From India, Mumbai
Gross salary is the total of all the payables due to you each month. This would include basic salary, HRA, Conveyance, Medical, and other allowances. If there are incentives or bonuses, they would also form part of gross salary.
Net salary is the salary you would take home after all deductions. Such deductions would include PF, ESI, TDS, unpaid leave, loans and advances, and any other applicable deductions.
So Net salary = gross salary - applicable deductions.
Hope this helps.
8th September 2010 From India, Ahmadabad
Gross Pay is Total Earnings shown in left side of Pay Slip
Net Pay is Gross Pay minus all statutory and other deductions shown in right side of Pay Slip
CTC is all direct pay (Gross Pay & Other Direct Pay for e.g. Bonus) + Indirect Pay (Employer Contribution to PF, ESI, superannuation, medical insurance etc.)
9th September 2010 From India, Bangalore
Basic+HRA OR DA+ CONVEYNACE ALLOWNACE+LEAVE TRAVELLING ALLOWANCE C+MEDICAL ALLOWNACE+SPECIAL ALLOWANCE+NEW PAPER ALLOWNACE OR ALLOWANCE WHICH ARE GIVEN TO EMPLOYEES
OTHER EXPENSES WHICH ARE BORN BY EMPLOYER LIKE GRATUITY+LEAVEA AMOUNT+ESI & PF CONTRIBUTION+ELECTRICIY & WATER & TRANSPORT CHARGES OTHER ALL EXPENSES WHICH ARE RELATED WITH THE EMPLOYEES
9th September 2010 From India, Chandigarh
The Gross Salary will mean your Basic pay + Dearness Allowances and all other allowances such as HRA, Children education, Conveyance etc.
The Net salary will mean your take home pay. Gross Salary - Statutory deduction such as PF, ESI, Profession tax, Income tax deductions etc & Non Statutory deductions such as Canteen subsidy, transport subsidy etc.,
The CTC on the other hand includes the following
Gross Salary + Annual Bonus/ Allowance such as Incentives, Statutory Bonus, Medical Insurance premium paid by Employer, Superannuation amount paid by employer, Canteen facility (expenses incurred per head for maintaining canteen), cost of beverages such as tea and coffee for individuals, LTA, Medical reimbursements, Welfare such as Uniforms, Snacks provided, Leave facilities (EL + other non statutory leave provided). In short it will include the expenses that an employer incurred for a particular employee for employing that particular individual.
Trust the matter is clarified
12th September 2010 From India, Madras
Your take home salary will be Rs.15,000 - PF,ESI, PT and other deductions.
Your HRA will be around 40% of your Basic Salary. 50% in case of you staying in metros.
The take home salary differs from company to company depending upon the nature of contributions and deductions from your salary.
7th October 2010 From India, Mumbai