Sr. Manager Hr/admin
Asso.prof.(commerce & Management) Pg
19th August 2014 From India, Mumbai
Where is the work location? Irrespective of the nativity of the person if the work location is in Maharashtra then PT shall be deducted as per Maharashthra act. If He/She is working in Rajasthan then PT shall be deducted as per Rajasthan PT act
19th August 2014 From India, Bangalore
20th August 2014 From India, Nellore
As others pointed out CTC is a sum total of what is payable to an employee on month to month as salary (ie.called cash cost) plus 'non cash costs' such as i) employer's contribution to employees' EPF a/cs ii) gratuity 'accrued but not due' as on that month iii) leave salary etc. which are not payable monthly as a part of salary, but the co. has to incur one day or other in future.
This is a net amount of salary (cash costs) 'accrued and due' comprised of Basic, DA, HRA, Transport Allw, Medical Allw, Spl.Allw) minus Prof.Tax, Income Tax (TDS) if applicable, EPF-Employees' monthly subscription @ 12% on on Basic+DA.which is 'Net amount/Take Home pay'.
So CTC and Take Home pay are two diff. amounts and hence he cannot take home Rs.20,000/- which is not the 'Net amount'.
21st August 2014 From India, Bangalore