Dear all,
CTC - Cost to Company as follows
- pf cotribution
- ESI Contribution
- bonus cotributioin
- Canteen subsideries
- ph bill Allowencess
- Travalling All.
- providing Residential
- etc....
Regards
Shivakumar
Asst - HR
From India, Bangalore
1CTC - Cost to Company as follows
- pf cotribution
- ESI Contribution
- bonus cotributioin
- Canteen subsideries
- ph bill Allowencess
- Travalling All.
- providing Residential
- etc....
Regards
Shivakumar
Asst - HR
From India, Bangalore
Dear all,
CTC - Cost to Company as follows
- pf cotribution
- ESI Contribution
- bonus cotributioin
- Canteen subsideries
- ph bill Allowencess
- Travalling All.
- providing Residential
- etc....
Regards
Shivakumar
Asst - HR[/QUOTE]
From India, Bangalore
CTC - Cost to Company as follows
- pf cotribution
- ESI Contribution
- bonus cotributioin
- Canteen subsideries
- ph bill Allowencess
- Travalling All.
- providing Residential
- etc....
Regards
Shivakumar
Asst - HR[/QUOTE]
From India, Bangalore
Dear Abhi, employer contribution also included in CTC.For your reference I am attaching CTC caliculation.I Hope it may be useful to you.
From India, Hyderabad
From India, Hyderabad
Yes. It is included in the CTC as CTC means Cost to the company. What ever the cost company pays on behalf of the employee. Hence PF Employer’s contribution is included in CTC
From India, Bangalore
From India, Bangalore
Please clarify - When the employer liable to pay PF contribution. When PF Act Applicable to an establishment.
From India, Hyderabad
From India, Hyderabad
Hi...
Nice query...
CTC is amount that whatever empolyer pay to his/her employee in term of money & perks...
Here employer's contrbution in EPF is adding value in your monetry compensation. Its a different thing that employee can not get it in hand but on leaving the job or Retirement it can be widrawan completely.
With Best Regards
ASHOK GIRI
From India, Delhi
Nice query...
CTC is amount that whatever empolyer pay to his/her employee in term of money & perks...
Here employer's contrbution in EPF is adding value in your monetry compensation. Its a different thing that employee can not get it in hand but on leaving the job or Retirement it can be widrawan completely.
With Best Regards
ASHOK GIRI
From India, Delhi
CTC is cost to the company. There is no definition of CTC. and that is the reason every employer rather We the hr people include any thing that spend towards an employee or rather for the employee to retain him on a regular basis.
But in true sense, the expenses like gratuity , bunus are periodical payments and contingent in nature which are payable on appening or fulfillment of certain incidents........for an employee staying for 5 years with the company at a stress or staying in the comapny for one fy.\
Now question is if this does not happen?? the cost will not be borne by the employer. Since these are statuitory requirements we just take the opportunity to include it into the ctc. this actually reduces our tax burden also to some extent.
Gratuity amount should be kept in the gratuity fund after acturial valuation or should be insured through LIC. How many employer does that??
In my opinion those expenses or costs that that are payable at a given time should not be shown as CTC. This may not directly attribute towards non complicances but gives a bad impression towards the company.
take one example. when company gives a production bonus.or incentive they do not include the same. then the question arise should it be included in the list of ctc on contingent basis????????
My answer is NO. But if you see the ohter aspect. from the company side. company wants to fix its capex. basically the concept of ctc is for that only.
From India, Calcutta
But in true sense, the expenses like gratuity , bunus are periodical payments and contingent in nature which are payable on appening or fulfillment of certain incidents........for an employee staying for 5 years with the company at a stress or staying in the comapny for one fy.\
Now question is if this does not happen?? the cost will not be borne by the employer. Since these are statuitory requirements we just take the opportunity to include it into the ctc. this actually reduces our tax burden also to some extent.
Gratuity amount should be kept in the gratuity fund after acturial valuation or should be insured through LIC. How many employer does that??
In my opinion those expenses or costs that that are payable at a given time should not be shown as CTC. This may not directly attribute towards non complicances but gives a bad impression towards the company.
take one example. when company gives a production bonus.or incentive they do not include the same. then the question arise should it be included in the list of ctc on contingent basis????????
My answer is NO. But if you see the ohter aspect. from the company side. company wants to fix its capex. basically the concept of ctc is for that only.
From India, Calcutta
Dear Mr. Abhi Both PF (EMPLOYEE & EMPLOYER contribution) & ESIC to be included in CTC under DEDUCTIONS. With profound regards
From India, Chennai
From India, Chennai
CTC includes total cost to the company for the purpose of hiring an employee. CTC is also a parameter to compare the salary the company is offering versus prospective employees last drawn salary. This is just to compare apple to apple. Employer may also add other components to CTC.
From India, New Delhi
From India, New Delhi
Yes, Employer's PF contribution is part of CTC, because otherwise it would be pratically impossible to compare the various components of salary like BASIC, HRA, DA, PA etc which actually varies from organisation to organisation hence we can not calculate the CTC in real sense. Therefore it would be better to consider each and evey thing what company is providing to you like Air LFA, Gardner dervice, Bus service, Sweeper etc ...in money equivalents
manoj tiwari
From India, Delhi
manoj tiwari
From India, Delhi
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Employer-PF-res trict to wages of Rs 6500.pdf