CTC calculation includes everything which is given to employee by employer, as the long form itself is self explainatory, cost to company.
Gross salary (Basic salary+HRA+conveyance+medical+LTA+other allowances, this includes all employee PF contri, ESI contri,P.T.), Employer PF,ESI contri, yearly bonus,mediclaim, accidental (it also should include as its cost to company),mobile alllowance (monthly), net allowance (monthly).
Anything which is included as cost to company towards employee should come under CTC.
Thanks.
From India, Pune
1Gross salary (Basic salary+HRA+conveyance+medical+LTA+other allowances, this includes all employee PF contri, ESI contri,P.T.), Employer PF,ESI contri, yearly bonus,mediclaim, accidental (it also should include as its cost to company),mobile alllowance (monthly), net allowance (monthly).
Anything which is included as cost to company towards employee should come under CTC.
Thanks.
From India, Pune
Dear All,
I want to design a CTC of 6 lacks rupees to a senior management professional in our hospitality industry and want to include the incentives on his CTC besides the basic salary.
Kindly give me some inputs on designing this salary.
Kindly take this as urgent help.
Thanks & Regards
Gaurav Agarwal
9970039856
From India, Mumbai
I want to design a CTC of 6 lacks rupees to a senior management professional in our hospitality industry and want to include the incentives on his CTC besides the basic salary.
Kindly give me some inputs on designing this salary.
Kindly take this as urgent help.
Thanks & Regards
Gaurav Agarwal
9970039856
From India, Mumbai
Dear frds
Basic 4000.00
V D A 1307.00 [Generally fixed in Hotel industry]
others 5000.00
-----------
Gross salary ----- 10307.00
-----------
P F + 637 00 [Basic+VDA*12/100]
E S I + 490.00 [4.75% on Gross- Employer contribution]
L T A + 333.00 [8.33% on Basic]
------------
C T C ------ 11767.00
-------------
correct me if im wrong hope some how it helps you
From India, Bangalore
Basic 4000.00
V D A 1307.00 [Generally fixed in Hotel industry]
others 5000.00
-----------
Gross salary ----- 10307.00
-----------
P F + 637 00 [Basic+VDA*12/100]
E S I + 490.00 [4.75% on Gross- Employer contribution]
L T A + 333.00 [8.33% on Basic]
------------
C T C ------ 11767.00
-------------
correct me if im wrong hope some how it helps you
From India, Bangalore
The Salary structure varies company to company based on their C & B policies. Some of the basic Pay heads used are
1) Basic - 35% - 50% of Gross
2) HRA - 40% of Basic for Non metro & 50% of basic for Metro
3) Con - Max Rs. 800/ P M which is Max of Rs. 9600 P A
4) Medical Reim - Max Rs. 1250 / PM which can be max of Rs 15000 PA
5) Spl Allow - Balance of Gross will be provided as Spl Allow
Statutory
1) PF
Emp Contribution - 12% on Basic
Emp'r Contribution - 13.61% on basic
2) ESI - Applicable to employees whose Gross Salary is less than or equal to Rs.10000
Emp Contribution - 1.75% on Gross
Emp'r Contribution - 4.75% on Gross
PT - It Varies State to state
Net Salary = Gross - PF (Emp Cont) - ESI (Emp Cont) - PT
CTC = Gross + PF (Emp'r Cont) - ESI (Emp'r Cont)
From India, Delhi
1) Basic - 35% - 50% of Gross
2) HRA - 40% of Basic for Non metro & 50% of basic for Metro
3) Con - Max Rs. 800/ P M which is Max of Rs. 9600 P A
4) Medical Reim - Max Rs. 1250 / PM which can be max of Rs 15000 PA
5) Spl Allow - Balance of Gross will be provided as Spl Allow
Statutory
1) PF
Emp Contribution - 12% on Basic
Emp'r Contribution - 13.61% on basic
2) ESI - Applicable to employees whose Gross Salary is less than or equal to Rs.10000
Emp Contribution - 1.75% on Gross
Emp'r Contribution - 4.75% on Gross
PT - It Varies State to state
Net Salary = Gross - PF (Emp Cont) - ESI (Emp Cont) - PT
CTC = Gross + PF (Emp'r Cont) - ESI (Emp'r Cont)
From India, Delhi
Hi Guys,
Need experts comments on my issue:
When PF (both Employer&Employee's) contribution is part of CTC, and do we need to reduce basic as per the number of working days present???
If yes, then the employee CTC will be less than what committed....please share your views.....
Employee gets additional amount of LE(Leave Encashment), so the amount first shoud get deducted against the LE when he/she is absent and then the basic should be adjusted.
Your comments and views highly appreciated.
From India, Delhi
Need experts comments on my issue:
When PF (both Employer&Employee's) contribution is part of CTC, and do we need to reduce basic as per the number of working days present???
If yes, then the employee CTC will be less than what committed....please share your views.....
Employee gets additional amount of LE(Leave Encashment), so the amount first shoud get deducted against the LE when he/she is absent and then the basic should be adjusted.
Your comments and views highly appreciated.
From India, Delhi
HRA is calucated generally as follows: Actual HRA or Actual - 10% of salay (Basic + DA) or 40% of Salary for non metro cities (50 % for Metro cities) We should take lease of the above 3
From India, Pondicherry
From India, Pondicherry
Dear Mr. Gaurav
I too not clear about other industry but V D A is fixed Rs. 1307.00 in most of the hotels under Hotel industry Notification No. KAE 13 LMW dated 17.07.03.
upto March'10 it was Rs. 933.00 but April'10 it increased Rs. 374.00
so now total its Rs. 1307.00.
There is no any other calculation for V D A in Hotel Industry [as per my knowledge].
From India, Bangalore
I too not clear about other industry but V D A is fixed Rs. 1307.00 in most of the hotels under Hotel industry Notification No. KAE 13 LMW dated 17.07.03.
upto March'10 it was Rs. 933.00 but April'10 it increased Rs. 374.00
so now total its Rs. 1307.00.
There is no any other calculation for V D A in Hotel Industry [as per my knowledge].
From India, Bangalore
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CTC CALCULATION SHEET.xls