Hi gskumars
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
From India, Gurgaon
35The 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
From India, Gurgaon
CTC=Cost to Company. That is what ever company pay to you in terms of cash will be considered as CTC. It depends upon company's pay policy that is how company will structure their pay. Regular bonus as per payment of bonus act is also CTC part. In that sence Performance bonus or productivity bonus will also to be concidered as CTC.
sc
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Incentives are various types. Sometimes incentives based on overall performance Rating is a part of CTC, usually there is a maximum amount allotted.
On the other hand, Incentives based on Target specially sales is kept out of CTC.
From India, Calcutta
On the other hand, Incentives based on Target specially sales is kept out of CTC.
From India, Calcutta
Variable pay defenitely is part of CTC. The Variable pay is performance based. In my company it is a 5 point scale and the variable pay is paid based on the employees achievement of the mutually agreed objectives and ratings at the beginning of the financial year.
Hari
From India, Hyderabad
Hari
From India, Hyderabad
Dear Hari,
I am Naresh Jandial,RSM with Dr Reddys Labs,Incentives are not part of CTC,they are not must,Incentives are given only once Employee achieves his target or objective as set by Organisation.
Regards,
Naresh Jandial
From India, Chandigarh
I am Naresh Jandial,RSM with Dr Reddys Labs,Incentives are not part of CTC,they are not must,Incentives are given only once Employee achieves his target or objective as set by Organisation.
Regards,
Naresh Jandial
From India, Chandigarh
The breakup of the CTC is basic salary, +deffered income+INCENTIVES BASED ON VOLUME SALES/REVENUES/ COMMISSION+YEARLY BENSFITS+PERKS IN CASH+PERKS IN KIND(mobile/house).So u have got a hike in one of the components.
From India, Pune
From India, Pune
Dear Mr. Joshi,
i wud request all of you to go thru Katyana's post; CTC includes both the fixed part and the variable part (Variable part is an incentive in a sense that you need to achieve a specific target to claim that amount).
CTC includes everything........perks, reimbursemnets, and other benifits given by an organization.
So the bottomline is: Incentives are v much a part of the CTC.
thanks and Regards,
Ayona
From India, Delhi
i wud request all of you to go thru Katyana's post; CTC includes both the fixed part and the variable part (Variable part is an incentive in a sense that you need to achieve a specific target to claim that amount).
CTC includes everything........perks, reimbursemnets, and other benifits given by an organization.
So the bottomline is: Incentives are v much a part of the CTC.
thanks and Regards,
Ayona
From India, Delhi
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