Cite Contribution
Community Manager
Tajsateesh
Recruitment/talent Acquisition, Career Counselling
Ankita1001
Sr. Hr Executive @ Polymerupdate
Harsh Shukla
Ceo And Md Of 3 Uk Based Mnc's
+1 Other

Thread Started by #rini.george33@ymail.com

Hello,
I am working as an Hr-Executive in an IT Company.
There is a question that erupted in my mind related to CTC(cost to the company).I
want to ask what is the basic difference between Indian CTC and Foreign CTC.
Please any body can help me out..
Thanks
2nd April 2013 From India, Mumbai
Hi Rini,
Though I cannot understand the reason or motive behind such question, would like to mention -
CTC as you are aware is cost to company.
Since you are in HR you might be aware of various components that are included in the CTC and also you might be aware that most of the components emerge out of the statutory compliance of that particular country or region.
So how can we compare the ctc of two different countries knowing the fact that the statutory compliance differs tremendously.
2nd April 2013 From India, Mumbai
Dear Rini,
In addition to what Ankita have shared, the salaries differ in terms of structure and value.
The differentials are way too high, hence please discount the currency of the country .
Education and certifications are differently valued . Hence, the pay philosophy changes. Most of the jobs are contractual. The benefits and retirals, are sea different.
You can easily find a direct comparison to salaries on Payscale
Wish to discuss the difference on the data you find . Thankyou once again !
2nd April 2013 From India, Mumbai
Dear Rini, Both Ankita and (Cite Contribution) are quite right. Though I cannot add to their comments. I would like to ask what prompted this thought? Regards, Harsh.
2nd April 2013 From United Kingdom, Barrow
Hey Rini,
It is not that the question was stupid or we found it very dumb to be asked...
When you are learning, never refrain from asking silliest questions also, because though it might sound stupid, most learning might come from that one stupid question that we refrain for asking because we think we would be judged dumb.
Learning is an on-going process and never be afraid to learn from all. If you notice on this forum. there are so many seniors who would actually appreciate their juniors for their contribution and their different view on the issue.
Just to share a dilouge from 3 idiots - "Jaha kahi se jitna gyaan mile, sab bator lo"
:-) and please feel free to ask any queries and do not hesitate to get your doubts cleared....
All the best for your career :)
4th April 2013 From India, Mumbai
Hello Rini,

I am with (Cite Contribution) & Ankita Shah that one learns ONLY by asking/enquiring. there's no other way out--for anyone & everyone, me included.

And in fact, the BEST time to learning-by-enquiring IS NOW--when you are still low in the career ladder. Once you gather experience, typical human psychology tends to put limitations on the human psyche of many people on 'opening-up' to know/learn......sort of 'what-will-they-think-of-me' syndrome/mentality.

Now coming to your query about Indian & Foreign CTCs, pl note that the concept/practice of "CTC" is prevalent in very few countries including India. Most countries have a different Salary concept--'What's my In-hand?'. In addition to the parameters mentioned by the other members--like Exchange rates, cultural differences, etc--the general human psychology there is more focused on the 'present', rather than future [one reason why families go totally broke in the West during recession periods].

To give an example, in USA, let's say an employee is hired @ US$40K p.a., but apart from the Salary, the legal practice is to ADD 401k Plan amount to the salary of the employee & the Employer adds equal amount--something like PF in India [to plan for retirement & family emergencies] & most employers also have Medical Insurance payouts also. But when you ask the employee or the Employer about a person's salary, the figure given is 40K p.a.--the rest being 'taken-for-granted'.

In a simple way, this would be the gist of the answer to your query.

Hope this helped.

Rgds,

TS
4th April 2013 From India, Hyderabad
Hey all. Thanks...I will be back with many more questions.Your experience,advices, feedback and valuable suggestions would be a great help to me. Thanks&Regards Rini
5th April 2013 From India, Mumbai
Hey all, Can anybody help me out with a form wherein the employee undertakes that he will ensure that he would reach office on time and if not, his salary would be deducted.
17th April 2013 From India, Mumbai
Hi Rini,
We cannot introduce such form (I think so)
What you can do is, introduce in your Workplace policy -
The office timings are from [ START TIME ] to [ END TIME ]
There will be a grace period of 15 minutes after [ START TIME ]
A person would be allowed to come late only two times in a month. Third late mark onwards, a half day would be deducted.
Late comers would be penalized by paying only half day's salary for such late coming days.
If a person is a habituated late comer, company has a right to initiate disciplinary action against the said person.
====================
Thereafter also introduce a Declaration form that states -
I have read and understood the company's policies and procedures and agree to abide by same.
I also understand that company has a right to amend, modify or introduce any policy at any point.
Take signatures from all the employees.
Hope it helped :-)
17th April 2013 From India, Mumbai
Hello Rini,
Ankita Shah is right.
However, when you formulate the Workplace Policy & circulate among the employees for their formal acceptance [in the format mentioned by Ankita Shah or a similar one], pl be prepared for a query from at least some of the employees: 'There's a Grace period for the Start time--but what about the End time?' Pl keep some answer ready for this eventuality.
Hope you get the point.
All the Best.
Rgds,
TS
17th April 2013 From India, Hyderabad
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