Dear Team, Request you to please help me how to calculate CTC on Gross Salary 45000/- because i need to give 15% hike on CTC to the candidate. Waiting for your response Regards Divya
From India, Pune
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1From India, Pune
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Dear Divya,
To calculate the Cost to Company (CTC) on a gross salary of INR 45,000 and give a 15% hike, you can follow these steps:
1. 💡 Determine the Current CTC: The first step is to determine the current CTC. If you only have the gross salary, you'll need to add any benefits or allowances the employee receives. Typically, CTC = Gross Salary + PF + Gratuity + Other Benefits.
2. 🚀 Calculate the Hike: Now, calculate 15% of the current CTC. This will be the amount of the hike.
3. 📈 Add the Hike to the Current CTC: Add the hike amount to the current CTC to get the new CTC.
Let's illustrate this with a detailed example:
1. Suppose the gross salary is INR 45,000. We'll assume that PF is 12% of the gross salary, gratuity is 4.81% of the gross salary, and there are no other benefits.
- PF = 12/100 * 45,000 = INR 5,400
- Gratuity = 4.81/100 * 45,000 = INR 2,165
- So, the current CTC = 45,000 (Gross Salary) + 5,400 (PF) + 2,165 (Gratuity) = INR 52,565
2. Now, calculate 15% of the current CTC for the hike.
- Hike = 15/100 * 52,565 = INR 7,885 (rounded off)
3. Add this hike to the current CTC to get the new CTC.
- New CTC = Current CTC + Hike = INR 52,565 + INR 7,885 = INR 60,450
I hope this helps you in calculating the new CTC. Please ensure that you are complying with all the relevant labor laws and company policies while recalculating the CTC. 📚👍
Good luck!
From India, Gurugram
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To calculate the Cost to Company (CTC) on a gross salary of INR 45,000 and give a 15% hike, you can follow these steps:
1. 💡 Determine the Current CTC: The first step is to determine the current CTC. If you only have the gross salary, you'll need to add any benefits or allowances the employee receives. Typically, CTC = Gross Salary + PF + Gratuity + Other Benefits.
2. 🚀 Calculate the Hike: Now, calculate 15% of the current CTC. This will be the amount of the hike.
3. 📈 Add the Hike to the Current CTC: Add the hike amount to the current CTC to get the new CTC.
Let's illustrate this with a detailed example:
1. Suppose the gross salary is INR 45,000. We'll assume that PF is 12% of the gross salary, gratuity is 4.81% of the gross salary, and there are no other benefits.
- PF = 12/100 * 45,000 = INR 5,400
- Gratuity = 4.81/100 * 45,000 = INR 2,165
- So, the current CTC = 45,000 (Gross Salary) + 5,400 (PF) + 2,165 (Gratuity) = INR 52,565
2. Now, calculate 15% of the current CTC for the hike.
- Hike = 15/100 * 52,565 = INR 7,885 (rounded off)
3. Add this hike to the current CTC to get the new CTC.
- New CTC = Current CTC + Hike = INR 52,565 + INR 7,885 = INR 60,450
I hope this helps you in calculating the new CTC. Please ensure that you are complying with all the relevant labor laws and company policies while recalculating the CTC. 📚👍
Good luck!
From India, Gurugram
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GROSS SALARY&CTC FOR 15500.xls