Mcado
Hie all, I want to know that the employers part of PF is also included in CTC, then how to manage it in salary slip, because we cant show the employers pf in salary slip?
From India, Delhi
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Rkn61
Hr Manager
KK!HR
Management Consultancy
Mcado
Hr Manager

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KK!HR
1373

There are several factors included in the CTC but are not part of salary slip. For instance subsidised food given in canteen cannot be included in salary slip but the cash value of the benefit gets reckoned in CTC. It is not at all necessary to mention all CTC components in the salary slip.
There is a saying that CTC is like the tusks of an elephant and is not to be mistaken as the teeth. There is no legal requirement to show CTC in the salary slip.
CTC is a feel good factor and gives an exaggerated notion to the employees on how much the organisation is spending for its personnel.

From India, Mumbai
rkn61
574

CTC (Cost to Company) worksheet is prepared and shall become an attachment to Offer of Appointment letter to a prospective candidate. In this, Employer share of PF, ESI, Gratuity, premium for Insurance (If applicable) and all components are included. The purpose of deriving CTC worksheet, is to enable management to know the total cost incurred/likely to be incurred if a particular employee is hired for employment.

But in a payslip, total CTC need not be shown. You have to show only gross salary as per following format.

Earnings Total gross Deductions Net salary


Net salary is the salary which is received by employee from company and it is
also called as take home salary.

From India, Aizawl

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