As far as my knowledge is concern CTC means the cost to company i.e what is the cost of an employee bearing by the company. In this component used were gross salary+EPF (only employer share with administrative charges+esic(only employer share)+earning through paid leave(on monthly basis)bonus or exgratia (only of monthly basis)+gratuity (on monthly basis) apart from that any other perks bear by employer. But mind it this component cant be deducted from employee gross figure, CTC includes only the component which was provided by employer. Deduction of 12% of EPF, 1.75% of ESIC and the labour welfare fund(if any) can't be a part of it.Putting the term ctc in the offer/appointment letter is also not valid.
Thanks & Regards,
From,
Sumit Kumar Saxena