Dear SK,
You have received a number of replies, and among them, the input from Ashish Ovekaker is the most comprehensive and reflective of 'CTC'. I fully endorse his views. All costs related to an employee would be 'cost to company' - and it has become a practice to ignore some basic common benefits like uniforms, subsidized food, annual gifts, cost of festivals/personal advances, etc. They are more by exception than the rule.
Venkatrangan
From India, Thana
1You have received a number of replies, and among them, the input from Ashish Ovekaker is the most comprehensive and reflective of 'CTC'. I fully endorse his views. All costs related to an employee would be 'cost to company' - and it has become a practice to ignore some basic common benefits like uniforms, subsidized food, annual gifts, cost of festivals/personal advances, etc. They are more by exception than the rule.
Venkatrangan
From India, Thana
First of all, I would like to mention why CTC is designed as BASIC+DA, medical allowance, HRA, etc. It is because otherwise there would not be any tax exemption.
PF contribution from the employer's side is in no way to be counted in the CTC of the employee.
From India, Surat
PF contribution from the employer's side is in no way to be counted in the CTC of the employee.
From India, Surat
Hi all, In recent days these things have started up,wherein employer shows his contribution towards PF as part of CTC just to inflate the package.
From India, Bangalore
From India, Bangalore
Dear Singh, P.F. contribution employers' side is a part of CTC . each and every benifits passes to employee will cost to company & it will be part of CTC. THANX 'N' REGARDS MANU BAGHEL
From India
From India
Dear all,
PF can be considered as CTC. CTC means Cost to Company. The expenditure on employees, whether statutory or optional, is irrelevant in concluding CTC. However, it would be unethical if you were to show the employer's contribution in CTC directly. First of all, calculate the Gross salary. Then, you can add the employer's contribution to the Gross salary. This way, you can conclude the CTC.
Regards,
P. Sathish Kumar
From India, Jaipur
PF can be considered as CTC. CTC means Cost to Company. The expenditure on employees, whether statutory or optional, is irrelevant in concluding CTC. However, it would be unethical if you were to show the employer's contribution in CTC directly. First of all, calculate the Gross salary. Then, you can add the employer's contribution to the Gross salary. This way, you can conclude the CTC.
Regards,
P. Sathish Kumar
From India, Jaipur
Dear Yasmin, R u sure abt the contribution of employer??? It is same as employees contribution i.e 12% Regards Supriya
From India, Thana
From India, Thana
Dear Supriya,
The additional 1.61% is the administration charge paid to the CPF organization that a company has to bear. To understand better, please go through the earlier posts CAREFULLY.
Regards.
From India, Delhi
The additional 1.61% is the administration charge paid to the CPF organization that a company has to bear. To understand better, please go through the earlier posts CAREFULLY.
Regards.
From India, Delhi
All the salary heads will come under CTC. Both Employers' and Employees' contributions are added into the CTC, but the Employer's Contribution will be shown as a separate head, whereas the Employees' contribution will not be shown as a separate head.
Regards, Ignatius L.
"Simplicity should be the fashion, style, and way of living for all."
From India, Madras
Regards, Ignatius L.
"Simplicity should be the fashion, style, and way of living for all."
From India, Madras
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