Dear Members,
This is the CTC breakup of one of my colleagues. Kindly guide and advise whether this breakup of CTC is correct as per rules and regulations. He is a white-collar employee who works in Gujarat State for a manufacturing company.
Your genuine advice will be highly helpful.
From India, Ahmedabad
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This is the CTC breakup of one of my colleagues. Kindly guide and advise whether this breakup of CTC is correct as per rules and regulations. He is a white-collar employee who works in Gujarat State for a manufacturing company.
Your genuine advice will be highly helpful.
From India, Ahmedabad
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There are no 'rules and regulations' for CTC and CTC breakup because the concept of CTC itself is not present in the law. Concerning the structure, as the basic wages are almost equal to the statutory minimum wages, it is acceptable. However, when it comes to retirement benefits such as gratuity, the employer has only considered the basic salary, which is incorrect. If the special allowance is provided to all employees, naturally, that component should also be included in the computation of gratuity. Apart from this issue, the structure is okay and aligns with industry/private establishment standards.
From India, Kannur
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4526From India, Kannur
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Gratuity-Leave calculation on CTC-Rev..xls
Gratuity calculation.doc