Hi Friends, I have to make a salary slip where in an employee will get 17k pm in hand and his annual CTC would be around 2.2-2.4 Lpa Please help me preparing that ASAP Thanks & Regards
From India, Mumbai
From India, Mumbai
Not just software?a strategic partner for HR teams that want to lead change, not just manage it. See It In Action - Book Your Demo
742
Dear Gratuity & Bonus are not calculated in CTC. Gratuity due after 5 year continue job. Bonus due if salary are equal to 10,000/- or less.
From India, Delhi
From India, Delhi
Sure, gratuity is due only after 5 or more years of service, and that too on resignation or retirement. However, every employee deposits an amount accrued annually in the hope that you'd claim it at the end of the year. This amount contributed by the employer for your gratuity every year is added to your CTC. The calculation for that is 15/26*1 (current year's gratuity).
Bonus will be included in your CTC only if it's a part of your compensation that you'd receive as per norms. However, many companies give a bonus to higher-paid employees as well in the name of ex-gratia, but that is included in the CTC.
Any contribution that an employer makes towards an employee, any cost that is incurred, is included in the CTC irrespective of it being a part of your salary.
Your basic salary is different, your take-home is different, net salary is different, and gross salary is different.
CTC = gross (basic + allowance + DA + HRA + conveyance, etc.) + statutory deductions like (PF and ESIC, as the case may be) + Contribution to medical/insurance + Bonus + Gratuity + Any LTAs (if applicable) + mobile reimbursement + medical reimbursement, etc.
Every single rupee that a company spends on the employee would be included in the CTC.
Hope this was helpful :)
From India, Mumbai
Bonus will be included in your CTC only if it's a part of your compensation that you'd receive as per norms. However, many companies give a bonus to higher-paid employees as well in the name of ex-gratia, but that is included in the CTC.
Any contribution that an employer makes towards an employee, any cost that is incurred, is included in the CTC irrespective of it being a part of your salary.
Your basic salary is different, your take-home is different, net salary is different, and gross salary is different.
CTC = gross (basic + allowance + DA + HRA + conveyance, etc.) + statutory deductions like (PF and ESIC, as the case may be) + Contribution to medical/insurance + Bonus + Gratuity + Any LTAs (if applicable) + mobile reimbursement + medical reimbursement, etc.
Every single rupee that a company spends on the employee would be included in the CTC.
Hope this was helpful :)
From India, Mumbai
Pls note foll changes in the quoted line: however, every employer deposits an amount accrued annually in the hope that you’d claim it at the end of the said tenure (5+ years)...
From India, Mumbai
From India, Mumbai
Dear Seniors i have a doubt that should we include the Gratuity in CTC. and another what is the cretiral of super annuation, in which condition we pay to employee it. please suggest
From India, Dehra Dun
From India, Dehra Dun
Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
