Madhu.T.K
Industrial Relations And Labour Laws
Katyana
Hr Professional
Amith R Murthy
Hr Executive
Forty4
Hr Executive
Sonia Kakkar
Human Resource (international Compensation
Moni_akg
Sr. Accounts Officer
Nish_sreeni
Payroll Executive
V.Bala
Service
Shaadeep
Hr Executive
Patelbdp
Service In Hospital

Thread Started by #Ramesh2k

Hi friends,
I am new to the forum.
I am serving in Defence, planning for a change to the corporate sector. I find it difficult in calculating my annual CTC. I would like to know, whether it is only as per my salary statement or should I include other benefits like free medical facilities, accommodation, ration, clothings, bonus, gratuity, leave travel benefits, pension, insurance etc. If yes, how can we calculate the monetary value of the intangibles and facilities which we get in forces. Hope I will get a detailed response in this subject from all.
Thank you,
Ramesh.
5th March 2008 From India, Bangalore
I would like to inform you, you should not only count CTC as per your salary statement but should include other benefits like free medical facilities (which premium paid by organization), accommodation, ration, clothings, bonus, leave travel benefits, transportation facilities, telecommunication facilities(if your mobile, resident phone bill paid by the organization etc, after your five years services you can count Gratuity.
6th March 2008
Hi,
most of the private companies have now removed intangibles income as it comes under FBT...
in private sector it's mostly divided into following parts:
Basic: 40% of CTC
Convenance: 800 pm
PF: 12% of basic
Medical: 15000 p.a.
LTA: 12000 p.a.
Variable & Personal pay- if applicable......
But companies also have one account for Reimbursement:
e.g. telephone (call bills), transfer bills, relocation bills, hospital insurance, pension plans, sick leave, business travel trip, awards, performance incentives, bonus....etc.
6th March 2008 From India, Pune
Dear All Members of the forum,
I have joined a company that company is calculating my salary on CTC basis.
In my CTC they are calculating gratuity also and deduct in my CTC.
This is right or wrong?
Please guide me.
Thanks a lot
Amit Kumar garg
8th March 2008 From India, Mumbai
Hi,
As the name suggest all expenses incurred on behalf of the employee by the company form part of the CTC. The typical co,ponents of CTC are
1. Basic
2.HRA and all other allowances(Conveyance,Dearness,special etc)
3.PF and Gratuity payable by the co.
4.Insurance payable by co.
5.Canteen/Uniform etc.
Hope this clarifies
8th March 2008
CTC may includes : Basic + HRA + Medical Allowance+ LTA (depends on co policy)+ Bonus + P.F Contribution (by co)+ ESIC contribution (by co) + Travelling Allowances+CCA K. Shaikh
8th March 2008 From India, Mumbai
Hi Monika,

The term CTC means cost to the company. Whatever company is incurring on u comes in CTC.Total compensation includes the value of all the perks and benefits one gets from the Company in addition to ones salary.

Following are the components which comes in CTC.

FIXED SALARY

Basic Salary



House Rent Allowance



Company Leased Accomodation



City Compensatory Allowance



Special Allowance



Conveyance Allowance



REIMBURSEMENTS

MEAL COUPONS



Entertainment



Books/Periodicals



Education

House Maintenance Allowance



Furnishing Allowance



Dress/Uniform Allowance



Other Allowances



BENEFITS/ PERKS

Company car

Driver’s Salary

Maintenance and Petrol Expenses

Leave Travel Allowance



Canteen Subsidy



Telephone Expenses



Mobile Phone



Club Membership



Electricity/Gas



Servant/Gardener



Credit Cards



Furnishings/Durables



Holiday Facilities



Medical Reimbursements



Medical Insurance

RETIRALS



Provident Fund



Superannuation



Gratuity

BONUS



Fixed Bonus

Productivity Linked Variable Bonus(*)



Any Other Performance Oriented Incentive including Stock Option Plan(*)

The above mentioned components comes in CTC.

KATYANA
8th March 2008 From India, Gurgaon
Hi all,
I am new to this forum and its a very informative site ! I am working as HR executive in a start up recruitment consultancy. I need some inputs on the topicslisted below. Can anyone help me out please ?
> What is the salary structure (Basic and Incentive structure) for business developers in a recruitment consultancy ?
> What could be the leave poilcy for a start up consultancy?
Thanks in advance !
9th March 2008
The concept of showing the Salary of an employee in the form of CTC (Cost To Company) is a new style idea developed by the companies to attract employees. Since the CTC includes all cost to be incurred by employing a person projecting the employment to a period coming after 5 years in addition to the actual remuneration payable every month, the amount OFFERED will be a big one. This is just to attract employees. I have come across to see a salary structure with medical reimbursement made a part of CTC. The poor employee expected the same also as receivable every month. But he was denied of it saying adequate proof is not given for having spent the amount. Similarly for many the meaning of Gratuity is nor aware. They feel that they will get it every month! They do not know the gratuity is payable only after they complete 5 years with the employer.

Therefore, do not belive in CTC concept. When accepting a job think whether the monthly salary alone is acceptable or not. Do not take the CTC since there is no where mentioned about BTC ( Benefit To the Company by employing a person- in fact if there is cost involved there should be benefit also !!!!)

Regards,

Madhu.T.K
10th March 2008 From India, Kannur
Hi Friends,
It is a simple topic, but still a confusing one i think. Anyways our friend Amit as got the solution for his problem.
Amit what all have told is correct Gratuity is part of CTC as the name says Cost To Company i.e total cost that the company will incur on you. Hope many of our friends have got this clarified.
Regards
Amith R.
10th March 2008 From India, Bangalore
Hi,
Pl find attached the SALARY BREAKUP FOR BUISNESS DEVELOPMENT MANAGER IN RECRUITMENT CONSULTANCY.
According to shops and establishement act , max 12 CL OR SL CAN BE GIVEN IN A CALENDAR YEAR--(MEANS-1ST JAN--31ST DEC)+10 PUBLIC HOLIDAYS(INCLUDING NATIONAL HOLIDAYS AND FESTIVALS).
Reffering to this u can prepare your leave policy .
For further clarification drop me a mail
.
KATYANA
10th March 2008 From India, Gurgaon
Hi All, I am currently working on a re-structuring project for a company, please can i get a sample of a compensation structure for all level within an organisation. Thanks Forty4
11th March 2008 From Nigeria
Hi Friends,
I am planning to restructure my employee's salary structure from next month(april). Can anybody help me doing it the best way for both employee and the company? How much percentage of the total salary can be given as reimbursements? what are the possible reimbursements for which employee can give bills and get tax exemption? what will be the FBT on these components?
Right now we have Carpetrol, Carmaintenance, driver salary, electricity and telephone reimburesement as per actuals. The other reimbursements like entertainment, books&periodical, office attire and medical are giving along with salary for which bills would be collected at the end of the year.
Can I add more heads? Do those heads have any limits? what are their FBT rates?
Help me.......
Regards
N S
13th March 2008 From China
Hi,
Thanks for the inputs.
But in defence, calculating the monetory equivalent of these benefits is quite difficult. While preparing the CTC, the value of these benefits are difficult to estimate since the the monetory value of these benefits are never highlighted anywhere by the organisation.
Hope someone with a more clear view about defence set up can give more inputs.
Regards
Ramesh
13th March 2008 From India, Bangalore
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