30
Employees 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)
+91 98310 81531
From India, New Delhi
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)
+91 98310 81531
From India, New Delhi
There 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.
B.Saikumar
HR & Labour Relations Adviser
From India, Mumbai
B.Saikumar
HR & Labour Relations Adviser
From India, Mumbai
If you are knowledgeable about any fact, resource or experience related to this topic - please add your views using the reply box below. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone.
employment laws industrial practice labour relations esic contribution Country-India City-India-Indore
NO Contribution on CTC-1.pdf
CTC Calculator.xls
