Dear All,
I have received an offer letter from one of the leading engineering companies, and my monthly package is Rs. 20,000, which does not include a bonus. However, I am not clear about the difference between CTC and Monthly Package. Please clarify this for me.
With regards,
Dev
From India, Mumbai
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1I have received an offer letter from one of the leading engineering companies, and my monthly package is Rs. 20,000, which does not include a bonus. However, I am not clear about the difference between CTC and Monthly Package. Please clarify this for me.
With regards,
Dev
From India, Mumbai
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Hi Dev,
Your monthly package is your salary per month (PM), and CTC (Cost to Company) is always annually. You will need to inquire whether 20,000 will be your gross salary or take-home salary. Please obtain this clarification from the company.
Feel free to ask for any other clarifications.
Regards,
Sujata
From India, Faridabad
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Your monthly package is your salary per month (PM), and CTC (Cost to Company) is always annually. You will need to inquire whether 20,000 will be your gross salary or take-home salary. Please obtain this clarification from the company.
Feel free to ask for any other clarifications.
Regards,
Sujata
From India, Faridabad
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Hi,
CTC means Monthly Gross Salary + Other Benefits & Perquisites + Bonus component. Monthly Gross generally includes BASIC + HRA + Any other allowances. So, if your Monthly Gross is 20K, then your CTC will be 2.4 lacs if that organization does not have any other benefit, or it will be 2.4 lacs + cost of other components or benefits offered or applicable to you.
Hope this clarifies.
Amit
From India, Delhi
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CTC means Monthly Gross Salary + Other Benefits & Perquisites + Bonus component. Monthly Gross generally includes BASIC + HRA + Any other allowances. So, if your Monthly Gross is 20K, then your CTC will be 2.4 lacs if that organization does not have any other benefit, or it will be 2.4 lacs + cost of other components or benefits offered or applicable to you.
Hope this clarifies.
Amit
From India, Delhi
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Dear dev,
MONTHLY PACKAGE IS WHAT YOU ARE PROMISED WITH IN YOUR CASE RS. 20,000.00. IN CASE OF CTC (WHICH CAN BE MEASURED ON A MONTHLY BASIS TOO), THE EMPLOYER IS SHOULDERING THE MONETARY LIABILITIES DUE TO THE OCCURRENCE OF ONE POST WHERE YOU ARE CURRENTLY, SUCH AS SALARY, PROVIDENT FUND (IF APPLICABLE), BONUS (IF APPLICABLE BECAUSE IT DEPENDS ON THE EMPLOYER TO PAY YOU AS THE UPPER LIMIT TO PAY THE BONUS IS RS. 3,500/- BASIC), GRATUITY, LEAVE WITH WAGES, UNIFORM, CANTEEN, VARIOUS INCENTIVES, TRAINING COST, INFRASTRUCTURE COST, MEDICAL EXPENSES, INSURANCE, PETROL, TRANSPORT.
ALL OF THESE ARE INCLUDED FROM THE EMPLOYER'S POINT OF VIEW BECAUSE HE IS SHOULDERING ALL EXPENSES.
REGARDS,
PRANAV
From India, Pune
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MONTHLY PACKAGE IS WHAT YOU ARE PROMISED WITH IN YOUR CASE RS. 20,000.00. IN CASE OF CTC (WHICH CAN BE MEASURED ON A MONTHLY BASIS TOO), THE EMPLOYER IS SHOULDERING THE MONETARY LIABILITIES DUE TO THE OCCURRENCE OF ONE POST WHERE YOU ARE CURRENTLY, SUCH AS SALARY, PROVIDENT FUND (IF APPLICABLE), BONUS (IF APPLICABLE BECAUSE IT DEPENDS ON THE EMPLOYER TO PAY YOU AS THE UPPER LIMIT TO PAY THE BONUS IS RS. 3,500/- BASIC), GRATUITY, LEAVE WITH WAGES, UNIFORM, CANTEEN, VARIOUS INCENTIVES, TRAINING COST, INFRASTRUCTURE COST, MEDICAL EXPENSES, INSURANCE, PETROL, TRANSPORT.
ALL OF THESE ARE INCLUDED FROM THE EMPLOYER'S POINT OF VIEW BECAUSE HE IS SHOULDERING ALL EXPENSES.
REGARDS,
PRANAV
From India, Pune
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Cost To Company (CTC) will always be in a yearly basis. Its a content of whole monetary benefit what you are going to get from the company. regards Venkadesh.r
From India, Mumbai
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From India, Mumbai
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Hi Dev,
Monthly CTC and monthly package are both the same. It means your salary along with the cash value of all the fringe benefits. Some companies do not include a bonus in the CTC, while some include it. Therefore, regarding the bonus issue, you have to get in touch with your HR.
Amit Goyal
From India, Delhi
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Monthly CTC and monthly package are both the same. It means your salary along with the cash value of all the fringe benefits. Some companies do not include a bonus in the CTC, while some include it. Therefore, regarding the bonus issue, you have to get in touch with your HR.
Amit Goyal
From India, Delhi
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Monthly Salary Statement - CTC and TDS Calculator.xls