CTC is cost to company has no legal bindings. It is a management tool to control and proper understanding of the employee cost. It is in general consisting of Monthly gross, Yearly components if any like - LTA, Furnishing, Statutory or otherwise any Bonus, Profit sharing yearly incentive etc. etc., Statutory cost - Employer portion of PF, ESIC, Gratuity etc., Perks like- Free transport for office coming and going back, subsidiary canteen, Office quarter, free electricity , medical & water etc.etc. It is random vary from organization to organization.
Now let us consider statutory deductions from yearly CTC - PF, ESIC if applicable, PTAX, ITAX if applicable etc.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions