Total Cost To Company Or CTC

I've been promoted to a managerial position recently and was provided with an offer stating that it is all inclusive.However no breakdown were provided for me to analyse the offer and I've to accept it within 7 days. I realize that the offer isn't all inclusive because when I purchase the vehicle for which I was about to receive an allowance for they reduce my basic salary to accommodate the vehicle installment. I consulted the CHRO and requested a breakdown and he said that in TCTC there is no breakdown. However when I complain to the MD's office he provides me with the breakdown who clearly indicates that the company only added 10% on my existing package as Technician where I wasn't even on TCTC. The reduction of my basic salary whilst we're not on a salary sacrifice scheme severely affected my life. They even reduced my pension contributions.

Are employers allowed to reduce employees salaries and benefits without the employees consent and what can I do.

Thanks in advance

Johnnas

Dear Johnnas,
I don't know anything about the Laws of Employment in your country. But, generally promotion means higher status of employment with higher salary commensurate with the higher responsibilities attached to the job. Personally I feel the sheme of C.T.C based Salary has certain hidden features like the rates of E.M.I quoted in hire-purchase schemes resulting in relative loss to the beneficiary. So, better bargain with your management and accept promotion or forego it.

Employers have the right to remove certain allowances or incentives based on their decision or business environment. In such scenarios, they inform the employees about the withdrawal or reduction of monetary benefits but they don't need the consent of employees.
Pon

While accepting the offer/promotion it is important to know the break-up of salary.
CTC can be a misleading concept. Always compare CTC - Gross Salary - Net Salary and decide if the offer is worth it.