Hi Seniors, Can anybody please tell me? What is CTC? What all comes under CTC & what does not comes under CTC?
From India, Calcutta
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4From India, Calcutta
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Hi Amar, firstly, please confirm if you are a fresher for an HR profile. CTC - Cost to Company, and salary bifurcation will include Basic, HRA, Conveyance, Medical allowance, Telephone allowance, attendance allowance, food allowance, special allowance, PF, PT, and variable pay.
Regards,
Deepak
From India, Delhi
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Regards,
Deepak
From India, Delhi
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Cost to Company can be used to refer to the total cost that an organization is spending towards their employees, including the salary, perks, costs related to benefits, costs related to hiring, training, retirals, statutory contributions, etc. In general, the CTC can be defined as:
CTC = Direct benefits + Indirect benefits + Saving Contributions
You can also use the research tab provided here to help you go through different threads discussed on the same topic earlier.
In humorous terms, "Cost to company" is a trick of a company and the HR department to show that they are paying a big salary, but unfortunately, it is just a bubble :)
Regards
From India, Bangalore
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CTC = Direct benefits + Indirect benefits + Saving Contributions
You can also use the research tab provided here to help you go through different threads discussed on the same topic earlier.
In humorous terms, "Cost to company" is a trick of a company and the HR department to show that they are paying a big salary, but unfortunately, it is just a bubble :)
Regards
From India, Bangalore
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Components of CTC (Cost to Company)
CTC consists of the following components:
1. Basic
2. House Rent Allowance
3. Special Pay
4. Conveyance Allowance
5. Employer Contribution towards Provident Fund
6. Employer Contribution towards ESI / Personal Insurance
7. Salary in lieu of Earned Leave
8. Gratuity
9. Statutory Bonus @ 11%
10. Food Coupons
11. Education Allowance
12. Medical Allowance
13. Telephone Allowance
From India, Jodhpur
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CTC consists of the following components:
1. Basic
2. House Rent Allowance
3. Special Pay
4. Conveyance Allowance
5. Employer Contribution towards Provident Fund
6. Employer Contribution towards ESI / Personal Insurance
7. Salary in lieu of Earned Leave
8. Gratuity
9. Statutory Bonus @ 11%
10. Food Coupons
11. Education Allowance
12. Medical Allowance
13. Telephone Allowance
From India, Jodhpur
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CTC SALARY SLIP FORM.xls