Hi all.
My knowledge in this subject is very little, so forgive me if the questions are silly or stupid. But I would appreciate it if someone could give me correct advice.
What I understand about CTC is that it is the maximum amount a company would pay for an employee. For example, if somebody is paid 15000 per month as CTC, then that will include their basic salary, other benefits, the employee's contribution of PF & ESI part, as well as the employer's contribution included in the 15000. Is this correct?
If the above is correct, can someone direct me to an Excel calculator where if I input 15000 as the CTC amount, it will show me the basic, HRA, Conveyance, and tax benefits components, as well as calculate the correct PF and ESI contributions.
All help is much appreciated.
Tijo
From India, Ernakulam
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1My knowledge in this subject is very little, so forgive me if the questions are silly or stupid. But I would appreciate it if someone could give me correct advice.
What I understand about CTC is that it is the maximum amount a company would pay for an employee. For example, if somebody is paid 15000 per month as CTC, then that will include their basic salary, other benefits, the employee's contribution of PF & ESI part, as well as the employer's contribution included in the 15000. Is this correct?
If the above is correct, can someone direct me to an Excel calculator where if I input 15000 as the CTC amount, it will show me the basic, HRA, Conveyance, and tax benefits components, as well as calculate the correct PF and ESI contributions.
All help is much appreciated.
Tijo
From India, Ernakulam
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Please try the following link to access some basic information on designing pay structures: [Design pay structure](http://hr.rajivchawla.com)
From India, Gurgaon
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From India, Gurgaon
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CTC refers to "COST TO COMPANY” including Gross Salary (Basic, HRA, DA, and EPF & ESIC) + other incentives that are provided from the firm. Incentives include conveyance meal, medical facilities, phone facilities, house facilities, travel allowance etc.
For more, I request you to please go to the links below posted.
https://www.citehr.com/40677-what-ctc.html
https://www.citehr.com/352391-what-ctc.html
https://www.citehr.com/373730-what-p...-employee.html
https://www.citehr.com/53414-what-di...gross-pay.html
https://www.citehr.com/19141-ctc-gross-salary.html
From India, Gurgaon
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For more, I request you to please go to the links below posted.
https://www.citehr.com/40677-what-ctc.html
https://www.citehr.com/352391-what-ctc.html
https://www.citehr.com/373730-what-p...-employee.html
https://www.citehr.com/53414-what-di...gross-pay.html
https://www.citehr.com/19141-ctc-gross-salary.html
From India, Gurgaon
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