Hi Everybody..!
Shekar here,
Can Anybody Clarrifiy Does CTC also includes Variable or Incentives
Please , Valueable Inputs required ....
Can Bonus, Business Incentives, other variables includes in CTC
Probably many ignored , Please let us know ...
Regards,
Somu Shekar
From India, Bangalore
1Shekar here,
Can Anybody Clarrifiy Does CTC also includes Variable or Incentives
Please , Valueable Inputs required ....
Can Bonus, Business Incentives, other variables includes in CTC
Probably many ignored , Please let us know ...
Regards,
Somu Shekar
From India, Bangalore
CTC
Cost to company..any outflow from your company's moneys, relatable to
one's compensation,agreed mutually and compelled by statutes of that location.
Some companies carrying this too far, by converting the office space ,assets used by employee into commercial equilant ! :o
wishes
ravichandar hm v 8)
From India, Madras
Cost to company..any outflow from your company's moneys, relatable to
one's compensation,agreed mutually and compelled by statutes of that location.
Some companies carrying this too far, by converting the office space ,assets used by employee into commercial equilant ! :o
wishes
ravichandar hm v 8)
From India, Madras
Hi..
Yeah the Incentives, bonus, etc might be included in the CTC.. But then it is not compulsary... as incentive depends on performance.. and obviously at the time of joining teh company... u will not be able ot measure a person's performance...
The compulsary compoenents of CTC wud be basic, HRA, DA, PF, Gratuity, telephone bills, etc.. which are more or less fixed expenses / outflow of cash....
The rest depends on the company... how they want to design the salary structure... some cos design it such tht at the end of th month there is very little in hand for the individual... while for the others it is more or less CTC/12.
It probably just confused you more.. but take a few examples to your top mgmt and ask them what kind of structure they want.. imp point is employee should be aware of the salary break-up at the time of joining and any time there is a change in the stucture.....
cheers!!!!!
Puja
From India, Guwahati
Yeah the Incentives, bonus, etc might be included in the CTC.. But then it is not compulsary... as incentive depends on performance.. and obviously at the time of joining teh company... u will not be able ot measure a person's performance...
The compulsary compoenents of CTC wud be basic, HRA, DA, PF, Gratuity, telephone bills, etc.. which are more or less fixed expenses / outflow of cash....
The rest depends on the company... how they want to design the salary structure... some cos design it such tht at the end of th month there is very little in hand for the individual... while for the others it is more or less CTC/12.
It probably just confused you more.. but take a few examples to your top mgmt and ask them what kind of structure they want.. imp point is employee should be aware of the salary break-up at the time of joining and any time there is a change in the stucture.....
cheers!!!!!
Puja
From India, Guwahati
Hi Shekar,
It depends on company to company. Some company include bonus, incentives in CTC to reduce your tax .
In our company bonus and incentive are over and above CTC.
Bonus is 8.33% of gross salary or as per the level which is fix by the company and incentive depends on performance or as per the level in the company.
Thanks
Ruchi
It depends on company to company. Some company include bonus, incentives in CTC to reduce your tax .
In our company bonus and incentive are over and above CTC.
Bonus is 8.33% of gross salary or as per the level which is fix by the company and incentive depends on performance or as per the level in the company.
Thanks
Ruchi
Hi All,
Thank you for the valuable inputs , More inputs will clear more doubts...
Anyway we had offered CTC of 5.04 lacs to the Candidate , but he had reejected the offer since amount of 50,000 was variable in ofered CTC , the same will be paid at he end of the year or 6 months ( varies..)
Still he is on hold, Can anybody suggest what is the right way to approach the management as well candiates
Comments Requested ......
With Regards,
Somu Shekar...
From India, Bangalore
Thank you for the valuable inputs , More inputs will clear more doubts...
Anyway we had offered CTC of 5.04 lacs to the Candidate , but he had reejected the offer since amount of 50,000 was variable in ofered CTC , the same will be paid at he end of the year or 6 months ( varies..)
Still he is on hold, Can anybody suggest what is the right way to approach the management as well candiates
Comments Requested ......
With Regards,
Somu Shekar...
From India, Bangalore
Yes it does. CTC is every single penny that the company spends on you, monetary as well as non-monetary. So dont be surprised if your company includes in your CTC boot-polish allowance too -Deepa
Hi Somu
Hope you are doing fine.,
Please go thru, this might clear few things.
--------------------------------------------------------------------------
Fixed:
Basic
HRA
Medical allowance
Special Allowance
Conveyance allowance...
--------------------------------------------------------------------------
+ Variable
--------------------------------------------------------------------------
+Incentives
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Total CTC=
--------------------------------------------------------------------------
Regards
Deep
From India, Calcutta
Hope you are doing fine.,
Please go thru, this might clear few things.
--------------------------------------------------------------------------
Fixed:
Basic
HRA
Medical allowance
Special Allowance
Conveyance allowance...
--------------------------------------------------------------------------
+ Variable
--------------------------------------------------------------------------
+Incentives
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Total CTC=
--------------------------------------------------------------------------
Regards
Deep
From India, Calcutta
Hi Shekar ,
I have some good MNC's & Indian companies as clients. Till now never saw them including variables/bonus/incentives in the CTC. It could be a possibility with others ..................
Second question raised by you is that candidate rejecting the offer .........
Now you ppl have offered him 5.04L with a variable of 50,000 so this 50K is assured or will vary & that also will come to him only in 6 months or may be a year which leaves the candidate with a uncertainity coz then it effectively makes your offer of about 4,54,000 . If that is the case then chk what is he currently drawing & whether is he really getting a standard hike coz in case if his take home salary is coming less or =to or probably giving him a very small hike with what you ppl are offering than I am not sure how keen will he be in joining
U can also check on his expectation on the salary so that u also have a understanding that his expectations are not unrealistic. In case if thats the case than it would be better to pursue the candidature of someone else
As being said put in front of the management whatall being conveyed to you from the candidate on salary & tell the management about the expectations of the candidate (if any ). In case if the managemnet says that it is the best what they can offer than tell the same to the candidate that this is the budget what you guys have for this role & the best offer you ppl can make "for this role". Rest is his choice
Regards
Prashant
From India, Delhi
I have some good MNC's & Indian companies as clients. Till now never saw them including variables/bonus/incentives in the CTC. It could be a possibility with others ..................
Second question raised by you is that candidate rejecting the offer .........
Now you ppl have offered him 5.04L with a variable of 50,000 so this 50K is assured or will vary & that also will come to him only in 6 months or may be a year which leaves the candidate with a uncertainity coz then it effectively makes your offer of about 4,54,000 . If that is the case then chk what is he currently drawing & whether is he really getting a standard hike coz in case if his take home salary is coming less or =to or probably giving him a very small hike with what you ppl are offering than I am not sure how keen will he be in joining
U can also check on his expectation on the salary so that u also have a understanding that his expectations are not unrealistic. In case if thats the case than it would be better to pursue the candidature of someone else
As being said put in front of the management whatall being conveyed to you from the candidate on salary & tell the management about the expectations of the candidate (if any ). In case if the managemnet says that it is the best what they can offer than tell the same to the candidate that this is the budget what you guys have for this role & the best offer you ppl can make "for this role". Rest is his choice
Regards
Prashant
From India, Delhi
Dear ALL
CTC is every single penny that the company spends on individual whether its monetary or non-monetary.
But if individual negotiate his/her salary component before joining the organisation then some of the components will not be the part of the CTC.
Regards
Arun K Mishra
From India, Bahadurgarh
CTC is every single penny that the company spends on individual whether its monetary or non-monetary.
But if individual negotiate his/her salary component before joining the organisation then some of the components will not be the part of the CTC.
Regards
Arun K Mishra
From India, Bahadurgarh
Hi there,
I am just trying my bit to be of some help here.
Technically speaking, CTC is actually the amount the company spends on an individual for his service for a financial year. This should actually include every amount that the company spends on the individual, including the employer contribution of PF, Incentives etc.
This example might help you:
Gross Salary : INR 2,50,000 hp.a.
CTC: INR 3,25,000 p.a. ( this includes the maximum incentive of INR 75,000 that can be paid to the employee in one financial year.)
This is as per my understanding, Please correct me if i am wrong.
Regards,
Avi
From India, Bangalore
I am just trying my bit to be of some help here.
Technically speaking, CTC is actually the amount the company spends on an individual for his service for a financial year. This should actually include every amount that the company spends on the individual, including the employer contribution of PF, Incentives etc.
This example might help you:
Gross Salary : INR 2,50,000 hp.a.
CTC: INR 3,25,000 p.a. ( this includes the maximum incentive of INR 75,000 that can be paid to the employee in one financial year.)
This is as per my understanding, Please correct me if i am wrong.
Regards,
Avi
From India, Bangalore
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