Dear Mamata Kumari,
After analysing the apt explanation given by our friend Bijay distinguishing salary and C.T.C, I hope certainly it would be clear to you that the contention that all subsequent contributions payable by the employer by the operation of certain laws to the establishment should be adjusted against the existing C.T.C is not only wrong but also illogical and illegal as well.
As C.T.C is the annual total cost incurred per employee by the employer in a year, let me try to explain the concept of gross monthly salary as follows:
Gross monthly salary is the sum total of the basic pay and all the other monthly allowances payable to the employee at the end of the wage period before all deductions as agreed in the contract of employment. All deductions here mean only those sums statutorily deductible from the agreed salary of the employee. That's why, all contributions both statutorily and contractually payable by the employer like contributions to ESI and/or EPF, bonus, gratuity fund, L.T.A, medical reimbursement etc., are not included in the statutory minimum wages. So is the case with the monthly gross salary or wages as agreed in the contract of employment. If the amounts payable by the employer subsequently due to applicability of ESI and EPF Acts are also deducted in order to keep the C.T.C the same, the gross monthly salary would automatically be reduced thus ending up in breach of contract on the part of the employer. If the employer like your new C.E.O is shrewd enough to coerce the employees to agree , it tantamounts to "contracting out " which is prohibited under the Labor Jurisprudence.
Better make a collective effort to bring this legal position to the notice of your new C.E.O.