Hi All,
We are following the concept of CTC in our organisation and the main components of the same are:
1. Basic salary
2. HRA
3. Medical
4. Transport allowance
5. Compensatory allowance
5. PF contribution by employer
The grand total of this is CTC, the deductions are towards PF only, for employee contribution.
Now the problem I am facing is that the format i am using as salary breakup annexure doesn't seem to be well received by new joinees, and they fail to understand the concept of CTC and specially the fact that pf contribution by employer is part of CTC. Could you please help in sharing the information on the same, as to the good format, that shopuld be given with the appointment letter.
Also, related to this is pay slip to be give every month, we are not including PF contribution by employer in monthly pay slip, and taking rest of the amount as Gross salary.
Is there any way where we can show the emplpyer contribution also in the pay slip/ is it mandatory to do that?
Please advise!!
Best Regards'
Anu B
We are following the concept of CTC in our organisation and the main components of the same are:
1. Basic salary
2. HRA
3. Medical
4. Transport allowance
5. Compensatory allowance
5. PF contribution by employer
The grand total of this is CTC, the deductions are towards PF only, for employee contribution.
Now the problem I am facing is that the format i am using as salary breakup annexure doesn't seem to be well received by new joinees, and they fail to understand the concept of CTC and specially the fact that pf contribution by employer is part of CTC. Could you please help in sharing the information on the same, as to the good format, that shopuld be given with the appointment letter.
Also, related to this is pay slip to be give every month, we are not including PF contribution by employer in monthly pay slip, and taking rest of the amount as Gross salary.
Is there any way where we can show the emplpyer contribution also in the pay slip/ is it mandatory to do that?
Please advise!!
Best Regards'
Anu B