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Anybody can please help me out that how can i define new CTC of my employees along with PF deduction, TDS Deduction & PT Deduction. How the employer contribution will be calculated in CTC. Is it displayed in Employee Salary slip or not
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Dear friend,
Hope that you know very well what C.T.C is actually and therefore I desist from explaining it. Whether statutory or not, employee salary slip is the statement just showing the gross salary earned during the salary period with break up figures of basic and other individual allowances as per the contract of employment and the deductions effected under various heads and the net amount receivable. Moreover, C.T.C being the projected annual cost per employee which includes the employer's contribution of different periodicities as well as the annual cost of other perquisites, it is not relevant to the purpose of salary slip.
Thank You for Your Valuable guidance Sir
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