PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
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AnonymousNo , PF and Esic can not be added to CTC.
From India, Jamshedpur
nanu1953Employees PF & ESIC contribution is deducted from Employee's earning which has already considered as CTC. Therefore, any deduction from Employee's earning - PF, ESI, ITAX, PTAX etc. never be part of CTC.
CTC is management tool to understand properly how much management is spending for the employees at any point of time.
S K Bandyopadhyay (Howrah, WB)
From India, New Delhi
saiconsultThere is no concept of CTC in employment laws.It is only an industrial practice, more so to conform to accounting norms as I understand. It is inclusive of expenses incurred by the company on account of employee.Thus it include only the employer part of PF & ESI contributions but not the employee part thereof.
HR & Labour Relations Adviser
From India, Mumbai
bijay_majumdarCost to company, clearly means that it is calculation of cost or expenses which company bears against each employee.It is the attribute for accounting and budgeting for company and its has no relevance towards the labour laws or its compliance.
From India, Vadodara