Labour Law & Hr Consultant

Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
I am working in plywood manufacturing company. My total CTC is Rs. 15000 and my gross salary is Rs. 12000 and basic salary also Rs. 12000. My take home is Rs. 10000 below the basic salary. It is ok for getting below basic salary and also basic and gross also same - i have done MBA with finance.
From Egypt, Cairo
I have no idea about the Egyptian Labor Laws relating to payment of wages/ salaries.
However, what I am sure about is that CTC is a mere statement of projection of the overall cost per employee per annum incurred by the employer inclusive of all direct and indirect benefits both statutory and contractual. Hence, it should not be taken as the gross amount or net amount payable at the end of any wage/salary period.
When you say that your gross and basic are one and the same, it implies that your salary is only a consolidated salary and not a structured one comprising of different components. Kindly check please.
If on the other hand, you are working in any branch of any Foreign Company in India, then also it cannot be an issue if your gross salary is at par or more than the statutory minimum wages if any fixed for your employment. Here again, it is important to note that the statutory minimum wage does not include the employer's share of statutory contributions to any fund like the ESI and EPF.

From India, Salem
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2020 Cite.Co™