Understanding In-Hand Salary from CTC: How Does ICICI Bank's Calculation Differ?

Hi all,

Can someone explain to me how to find the approximate in-hand salary from the given CTC? I want to know in general and also specifically for ICICI Bank because I came to know that they calculate CTC in a different manner, which is why their CTC is always higher than other companies' calculations for the same salary.

Thanks & Regards,
Gaurav Sahu
Email: gauravrsahu@gmail.com
Phone: 09229252852

Hi Saurav,

CTC means cost to company, which includes each and every component of expenses incurred by an employee. In-hand salary is calculated from the gross salary, with various deductions such as PF, ESI, PT, and TDS being made, resulting in the final salary received by the employee.

Regards,
Amit Seth.

Hi dear,

As you know, CTC means Cost to Company. It includes every penny which the company invests in you. In relation to the salary in hand, we can determine it after reviewing the components and their percentage in the CTC. The salary in hand will depend on your components and their percentage. It will vary from company to company.

However, if we look at the average figures in the industry, approximately 60% of CTC is what you will receive in hand.

Hi, :)

CTC stands for Cost to Company, which includes all the components incurred by the company to provide you with contributions/facilities such as: Meal (Subsidized), Conveyance, Training & Development, PLIs, etc.

However, CTC minus all contributions/facilities mentioned above is your GROSS SALARY.

Gross salary minus PF and TDS is your NET SALARY/IN-HAND SALARY.

Hope your doubt has been clarified.

Shelly

Hi!

I am providing the breakdown of my CTC. Could you please tell me what the in-hand amount will be?

- Stipend: 7000/month
- HRA: 1980/month
- Conveyance: 2800/month
- Performance Reward: 5050/month until the 1st assessment
- Food Coupons: 1000/month
- Production Incentive: Based on plant performance
- Medical Reimbursement: 8.33% of stipend
- LTA: 8.33% of stipend (paid annually)
- Leave Encashment: As per company rules
- Provident Fund: 12% of stipend
- Gratuity: As per company rules
- Bonus: 20% of stipend (paid annually)

Thank you!

CTC Break-up Amount

- Fixed Gross CTC: Rs. 2,28,600/-
- Retirals: Rs. 23,112/-
- Staff Loan Benefit: Rs. 65,450/-
- Performance Bonus: Rs. 54,000/-
- Total Gross CTC: Rs. 3,71,352/-

What would be the in-hand salary?