HR ISSUE VERY URGENT

Dear Rashid....
CTC Means Cost to Company (overall expenditures for employee from employer including all benefits and employer contribution to ESI and PF)
Best Regards
Pankaj

CTC-cost to company, how much company expense on you and your office. it includes gross and office Maintenances expenditure
GROSS-how much expense the company on you. it includes net income + PF+income tax+insurance+HRA+med. etc
NET- how much money you get in hand.

CTC - Cost to Company,
In CTC Salary Distribution will be ,
(A) Basic Salary + HRA + DA
(B) Conveyance + Medical + Other / Special Allowance if any
(C) Employers Contribution for PF (12% of Basic)
Employers Contribution for ESIC (4.75% of Gross)
(D) Employees Contribution for PF (12% of Basic)
Employees Contribution for ESIC (1.75% of Gross)
Gross Salary = (A) + (B)
CTC = (A) + (B) + (C)
Net in Hand = (A) + (B) - (D)
Hope this will clear your confusion..
Reagrds
Ana

Hi,
This is a nice conversation. Today what really matters is how mich the company spends towards an individual. This is CTC and departing from the earlier practice of Gross/Nett etc, as said it includes the hidden componensts as well.Infact even the cost of Lunch provided/Interest on loan/Insurance paid (both Medical and Vehicle) apart from Gratutity/.PF ( Co.contribution) is added and the final CTC worked out
Thanks&Regards
Bala

Dear Sender
The difference between CTC and gross salary is as under:
CTC is the term used in present trend, which clearly spelt the package offered by the organisation to candidates( i.e. amount and perks are clearly spelt how much is payable on annual basis (both on empoyee and employer and nothing more is payable other than the amount specified unless any revision in CTC is declared by management)
Gross salary is the term which certain portion are spelt and certain portion are given as and when declared by management, which is not known to employee in advance ( e.g. bonus and other perks periodically declared by organisations)
Hope this will be clear to you.
With regards
L.Kumar