Dear Members,
This is CTC Breakup of one of my colleagues. Kindly guide and advise whether this breakup of CTC is correct or not as per rules and regulations. He is a white collar employee and works in Gujarat State. Employer is a manufacturing company.
Your genuine advices will be highly helpful.
From India, Ahmedabad
This is CTC Breakup of one of my colleagues. Kindly guide and advise whether this breakup of CTC is correct or not as per rules and regulations. He is a white collar employee and works in Gujarat State. Employer is a manufacturing company.
Your genuine advices will be highly helpful.
From India, Ahmedabad
There is no 'rules and regulations' for CTC and CTC break up because the concept of CTC itself is not there in the law. As far as structure is concerned, as the basic wages is almost equal to the statutory minimum wages, the same is okay. But when it comes to retirement benefits, like gratuity, the employer has considered only the basic salary. That is not correct. If the special allowance is paid to all employees, naturally, that component should also be considered for computation of gratuity. Otherwise, the structure is oaky and as per the industry/ private establishments standards.
From India, Kannur
4238From India, Kannur
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CTC Breakup.xls
CTC - Breakup.JPG