hi,
what u said Entertainment Allow. mobile reimbursement , petrol reim. etc can't be considered as salary. They are a part of the CTC. they are considered as incentives because they vary from month to month. but shall i consider under ESI.. Deduction
If I am wrong please correct me.
Wish you happy DIWALI.
regards,
Nagendra
From India, Hyderabad
2what u said Entertainment Allow. mobile reimbursement , petrol reim. etc can't be considered as salary. They are a part of the CTC. they are considered as incentives because they vary from month to month. but shall i consider under ESI.. Deduction
If I am wrong please correct me.
Wish you happy DIWALI.
regards,
Nagendra
From India, Hyderabad
Hi,
Salary constitutes what you get every month and reflected in your pay slip - Basic, DA, HRA, Conveyance, Special Allowance, etc. This is, in fact, termed as Gross Salary. After deductions, you have the "Take Home Salary" or Net Salary. Besides this, you may have some reimbursements which are admissible on production of bills/ supporting documents. This may be claimed on a monthly/ quarterly/ yearly basis - the typical ones are Medical, Mobile, etc. But even for these a cap needs to be fixed (for obvious reasons). When CTC is calculated, all the costs incurred by the company towards a particular employee is taken into consideration.
It is better to explain the above to all the employees because they need to know that, besides the salary, the company spends a lot of money towards other things too and they do get benefited - maybe the money does not come every month, but it does come.
Regards,
Vasudev
From India, Madras
Salary constitutes what you get every month and reflected in your pay slip - Basic, DA, HRA, Conveyance, Special Allowance, etc. This is, in fact, termed as Gross Salary. After deductions, you have the "Take Home Salary" or Net Salary. Besides this, you may have some reimbursements which are admissible on production of bills/ supporting documents. This may be claimed on a monthly/ quarterly/ yearly basis - the typical ones are Medical, Mobile, etc. But even for these a cap needs to be fixed (for obvious reasons). When CTC is calculated, all the costs incurred by the company towards a particular employee is taken into consideration.
It is better to explain the above to all the employees because they need to know that, besides the salary, the company spends a lot of money towards other things too and they do get benefited - maybe the money does not come every month, but it does come.
Regards,
Vasudev
From India, Madras
This merits attention.
1 There is the salary. There are statutes on the same, essentially ESI and PF/ Pension/ EDLI.
2 There are the allowances if they don't come under the IT Act, they do under FBT Act.
3 Salary. allowances, deductions on the statutes.
4 All these form CTC.
5 There are Reimbursement of the expenses done for the Company's work, ie, tele, mob, transport, conveyance reimbursement (Not allowance).
Some companies tend to incl reimbursements as CTC. It is not from the point of view of the CTC of the employee, nevertheless are expenses on the job concerned, for the data to be used to ascertain ROIs.
Regards,
Pradeep Bajaj
From India, Delhi
1 There is the salary. There are statutes on the same, essentially ESI and PF/ Pension/ EDLI.
2 There are the allowances if they don't come under the IT Act, they do under FBT Act.
3 Salary. allowances, deductions on the statutes.
4 All these form CTC.
5 There are Reimbursement of the expenses done for the Company's work, ie, tele, mob, transport, conveyance reimbursement (Not allowance).
Some companies tend to incl reimbursements as CTC. It is not from the point of view of the CTC of the employee, nevertheless are expenses on the job concerned, for the data to be used to ascertain ROIs.
Regards,
Pradeep Bajaj
From India, Delhi
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