Hi friends!
Can anyone tell whether the following compensation quoted by the company is correct? I was committed to the CTC of Rs. 15,000 per month. However, they have issued this salary structure after one month, and now I am receiving only Rs. 12,000 as my net salary. Please provide your comments openly. Will they include gratuity in CTC?
From India, Madras
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Can anyone tell whether the following compensation quoted by the company is correct? I was committed to the CTC of Rs. 15,000 per month. However, they have issued this salary structure after one month, and now I am receiving only Rs. 12,000 as my net salary. Please provide your comments openly. Will they include gratuity in CTC?
From India, Madras
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If your net salary is Rs. 12,000/- per month, then it is likely that your CTC is Rs. 15,000/-. Yes, several companies do include Gratuity as part of the CTC. Personally, I always share the salary details and structure with the candidate when making him/her an offer.
Best Wishes, Vasant Nair
From India, Mumbai
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92Best Wishes, Vasant Nair
From India, Mumbai
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Dear Siva,
Your gross is 15K, but your net take-home is 12K. Always check before accepting any offer to understand the difference between gross and net salary. Net salary is calculated after deductions such as PF, PT, etc.
Regards,
Shveta
From India, Mumbai
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Your gross is 15K, but your net take-home is 12K. Always check before accepting any offer to understand the difference between gross and net salary. Net salary is calculated after deductions such as PF, PT, etc.
Regards,
Shveta
From India, Mumbai
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Dear Siva,
As per the laws of the Union Government of India, companies may add gratuity benefits to the CTC of an employee. This is beneficial to employees because gratuity rules are meant for employee benefits. As we all know, gratuity is given to employees who have worked in a company for more than 5 years.
Keep sharing...have a great time.
H.R. MTIL
From India, Vadodara
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As per the laws of the Union Government of India, companies may add gratuity benefits to the CTC of an employee. This is beneficial to employees because gratuity rules are meant for employee benefits. As we all know, gratuity is given to employees who have worked in a company for more than 5 years.
Keep sharing...have a great time.
H.R. MTIL
From India, Vadodara
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Dear,
It's may be added the gratuity in CTC because CTC means Cost to Company, and we know very well that gratuity is a part of the Company, but they should refund this amount in full and final time.
Thanks,
Regards,
J.N. Modi
From India, New Delhi
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It's may be added the gratuity in CTC because CTC means Cost to Company, and we know very well that gratuity is a part of the Company, but they should refund this amount in full and final time.
Thanks,
Regards,
J.N. Modi
From India, New Delhi
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As per gratuity rules, the gratuity will be received only after 5 years of continuous service with the company. However, if the person in CTC leaves the organization before 5 years, will he receive the gratuity amount with his full and final payment? According to the attached sheet, it does not seem possible. But it is deducted from the promised amount of Rs. 15,000/- CTC.
Thanks in advance for your clarification.
From India
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Thanks in advance for your clarification.
From India
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If the employee leaves before completing 5 years, the accumulated amount under the gratuity head will be deposited to the government authorities. The employee will have to forgo the gratuity amount, even though it is part of the CTC.
From India, Lucknow
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From India, Lucknow
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Someone has mentioned something about Union Govt. etc.... Please do not make such irrelevant comments. There is NO involvement of any Govt. in deciding the CTC Structure. Vasant Nair
From India, Mumbai
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From India, Mumbai
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Your take-home salary is after the deduction of 12% PF of Basic + 1.75% of 12886 gross i.e., 886/-. Therefore, it comes to 12000/- (12886-886=12000/-).
This is something most HRs won't clear.
Regards,
Ram Chander
9212661075
From India, Delhi
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This is something most HRs won't clear.
Regards,
Ram Chander
9212661075
From India, Delhi
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These days, all private organizations show gratuity as part of CTC for MIS and provision purposes. It is actually a cost for the company, and with this logic, it is correct. However, they are benefiting from an old act that does not address this issue.
In the case of Siva's breakup remarks on gratuity, it is misleading as it states that the employer will contribute 15 days of basic salary upon completion of 5 years. Therefore, my query would be: is this 15 days of basic salary in addition to the Rs 3221/- mentioned as CTC or not? Regarding PF remarks, it is clear, so he should clarify this with his employer.
From India, New Delhi
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In the case of Siva's breakup remarks on gratuity, it is misleading as it states that the employer will contribute 15 days of basic salary upon completion of 5 years. Therefore, my query would be: is this 15 days of basic salary in addition to the Rs 3221/- mentioned as CTC or not? Regarding PF remarks, it is clear, so he should clarify this with his employer.
From India, New Delhi
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Dear All,
CTC: GROSS SALARY, NET SALARY, SALARY
BASIC + DA + SPL. ALL + HRD + CONV + OTHER ALLOWANCE = GROSS SALARY
GROSS SALARY - DEDUCTIONS (LIKE PF, ESI, PT, IT, OTHER DEDUCTIONS) = NET SALARY
CTC = GROSS SALARY + EMPLOYER CONTRIBUTIONS TOWARDS PF + EMPLOYER CONTRIBUTIONS TOWARDS ESI + GRATUITY + SUPERANNUATION CONTRIBUTION.
EMPLOYERS WILL ALWAYS SPEAK ABOUT CTC.
WITH REGARDS,
K.V. SELVARAJ.
From India, Coimbatore
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CTC: GROSS SALARY, NET SALARY, SALARY
BASIC + DA + SPL. ALL + HRD + CONV + OTHER ALLOWANCE = GROSS SALARY
GROSS SALARY - DEDUCTIONS (LIKE PF, ESI, PT, IT, OTHER DEDUCTIONS) = NET SALARY
CTC = GROSS SALARY + EMPLOYER CONTRIBUTIONS TOWARDS PF + EMPLOYER CONTRIBUTIONS TOWARDS ESI + GRATUITY + SUPERANNUATION CONTRIBUTION.
EMPLOYERS WILL ALWAYS SPEAK ABOUT CTC.
WITH REGARDS,
K.V. SELVARAJ.
From India, Coimbatore
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CTC SALARY SLIP FORM.xls