Dear ISSAC, You have given nice explanation of CTC. Really good one. Now, if you do have any idea regarding the laws of bifercation of the Salary components, pls. let me know. Gambhir
From India, Mundra
Acknowledge(0)
Amend(0)
4From India, Mundra
Acknowledge(0)Amend(0)
Mr.Murthy, i agree with you. But, why any company should think that new joinee will leave the organization within the time span of 5 years? why dont we forcast all liabilties of an employee which is supposed to be on the shoulder of company? It's a era of high attrtion but management should nt consider " To be or not to be" state.
well, its purely depends on the policy of the company......
Gambhir
From India, Mundra
Acknowledge(0)Amend(0)
well, its purely depends on the policy of the company......
Gambhir
From India, Mundra
Acknowledge(0)Amend(0)
It is closer to 5%
I also would like to highlight the Recommendation of the latest Commission on Labour which has recommended gratuity to be deposited like PF every year
And the employee will get the benefits on attaining supperannuation
I do not remember the exact recommendation and the above was the crux of the recommendation
Even PF had this 5 year clause till 1980s
One more aqspect about Gratuity is that it is paybale if an Employee dies evn if he has not completed 5 years.
Should we take it as part of CTC is left to individual Companies
Siva
From India, Chennai
Acknowledge(0)Amend(0)
I also would like to highlight the Recommendation of the latest Commission on Labour which has recommended gratuity to be deposited like PF every year
And the employee will get the benefits on attaining supperannuation
I do not remember the exact recommendation and the above was the crux of the recommendation
Even PF had this 5 year clause till 1980s
One more aqspect about Gratuity is that it is paybale if an Employee dies evn if he has not completed 5 years.
Should we take it as part of CTC is left to individual Companies
Siva
From India, Chennai
Acknowledge(0)Amend(0)
Mr Issac
Transport allowance is Rs 800.00 (eight hundred only) per month . No tax will be deducted as per IT.
Please see you have writen 8000/-( eight thousand)
Is it a typogrphcal mistake. if so ignore
Thanks
L N Murty
Acknowledge(0)Amend(0)
Transport allowance is Rs 800.00 (eight hundred only) per month . No tax will be deducted as per IT.
Please see you have writen 8000/-( eight thousand)
Is it a typogrphcal mistake. if so ignore
Thanks
L N Murty
Acknowledge(0)Amend(0)
Dear Mr.L.N.Murthy, Greetings from Isaac Patturaja. Want to know whether you worked in Orient Cements, Devapur plant before. Plz clarify me the same. Best Regards Isaac Patturaja
From India, Madras
Acknowledge(0)Amend(0)
From India, Madras
Acknowledge(0)Amend(0)
Dear All,
I have mentioned 8000/- for travel allowance in CTC structures.
As mentioned by Mr.Murty it is Rs.800/- only.
Please do the necessary change. Sorry for the mistake.
Thank you very much Mr.L.N.Murty for correcting me.
Isaac Patturaja
From India, Madras
Acknowledge(0)Amend(0)
I have mentioned 8000/- for travel allowance in CTC structures.
As mentioned by Mr.Murty it is Rs.800/- only.
Please do the necessary change. Sorry for the mistake.
Thank you very much Mr.L.N.Murty for correcting me.
Isaac Patturaja
From India, Madras
Acknowledge(0)Amend(0)
These are some heads counted for CTC in PSU's
Basic Pay
Variable Dearness Allowance.
Company Lease/Hra
Transport Allowance
Professional Updation Allowance
Washing Allowance
Cable Connection Charges
City Comp Allow
Canteen Subsidy
Encashable Compensatory Off
Refreshment Charge Reimbursement
Earned Leave Encashment
Half Pay Leave Encashment
Provident Fund
Medical Reimbursement
Performance Pay
Leave Travel Allowance
Holiday Home Encashment
Higher Qualification Incentive
Small Family Incentive
Children Education Allowance
Telephone Reimbursement
Laptop Reimbursement
Laptop Maintenance
Furniture Reimbursement
Furniture Maintenance
Lease Maintenance
Gratuity
Dress Allowance
Professional Membership Reimbursement
Spectacles Reimbursement
Handbag Reimbursement
Productivity Allowance
Conveyance Maintenance Expenses Reimbursement
Reimbursement Of Catering Expenses
Entertainment Expenses Reimbursement
Electricity Charges Reimbursement
Newspaper Reimbursement At Residence
Credit Card Fee Reimbursement
Brokerage Charges For Company Leased Accommodation
Special Pay
Personal Pay On Stagnation
Remote Locality Allowance
Cash Handling Allowance
Outfit Maintenance Allowance
Shift Duty Allowance
Non-Practicing Allowance
Secondment Allowance
Tribal Area Allowance
North-Eastern (Special Duty) Allowance
Officiating Allowance
Superannuation Benefit Fund
Driver Allowance
Any differential amount of Interest Concession (below than market rate) availed in any type of Advance is also counted like
Conveyance Advance
House Building Advance
CNG Kit Advance
Lumpsum Advance
Any tax paid by organization to government on the perks availed by employees is also added like.
Gift and rewards
Tax on House perks,
From India, New Delhi
Acknowledge(0)Amend(0)
Basic Pay
Variable Dearness Allowance.
Company Lease/Hra
Transport Allowance
Professional Updation Allowance
Washing Allowance
Cable Connection Charges
City Comp Allow
Canteen Subsidy
Encashable Compensatory Off
Refreshment Charge Reimbursement
Earned Leave Encashment
Half Pay Leave Encashment
Provident Fund
Medical Reimbursement
Performance Pay
Leave Travel Allowance
Holiday Home Encashment
Higher Qualification Incentive
Small Family Incentive
Children Education Allowance
Telephone Reimbursement
Laptop Reimbursement
Laptop Maintenance
Furniture Reimbursement
Furniture Maintenance
Lease Maintenance
Gratuity
Dress Allowance
Professional Membership Reimbursement
Spectacles Reimbursement
Handbag Reimbursement
Productivity Allowance
Conveyance Maintenance Expenses Reimbursement
Reimbursement Of Catering Expenses
Entertainment Expenses Reimbursement
Electricity Charges Reimbursement
Newspaper Reimbursement At Residence
Credit Card Fee Reimbursement
Brokerage Charges For Company Leased Accommodation
Special Pay
Personal Pay On Stagnation
Remote Locality Allowance
Cash Handling Allowance
Outfit Maintenance Allowance
Shift Duty Allowance
Non-Practicing Allowance
Secondment Allowance
Tribal Area Allowance
North-Eastern (Special Duty) Allowance
Officiating Allowance
Superannuation Benefit Fund
Driver Allowance
Any differential amount of Interest Concession (below than market rate) availed in any type of Advance is also counted like
Conveyance Advance
House Building Advance
CNG Kit Advance
Lumpsum Advance
Any tax paid by organization to government on the perks availed by employees is also added like.
Gift and rewards
Tax on House perks,
From India, New Delhi
Acknowledge(0)Amend(0)
hi i agree gratuity as well as all other allowances which are paid by employer to the employee on submission of bill, covered by CTC this is simple formula for calculation of CTC, m i right? manish
Acknowledge(0)Amend(0)
Acknowledge(0)Amend(0)
I think over the years, no one has been able to clearly define what constitutes CTC. But by its very definition (cost to company), any cost that the company incurs on the employee will come under the ambit of CTC. However, it becomes difficult to quantify items such as medical expenses, which are reimbursed based on actual expenditure, irrespective of any limit. I have noticed that most Pvt companies include the maximum number of items in the CTC whereas PSUs have generally been seen to include mainly items, apart from basic, DA etc, for which the payment figure remains consistent.
From India, Delhi
Acknowledge(0)Amend(0)
From India, Delhi
Acknowledge(0)Amend(0)
Dear All,
If I am not wrong the Sodoxo Coupons can be given up to 24000/ per annum without any tax liability for employee as well as employer. Can somebody throw some light How these coupons are distributed among employee.
Is it on the basis of the Hierarchy? Say for Sr management, we pay 24000/- and the middle Management INR 15000/- and the lower level INR 10,000 per annum.
Rgds
RAM
From India, Mumbai
Acknowledge(0)Amend(0)
If I am not wrong the Sodoxo Coupons can be given up to 24000/ per annum without any tax liability for employee as well as employer. Can somebody throw some light How these coupons are distributed among employee.
Is it on the basis of the Hierarchy? Say for Sr management, we pay 24000/- and the middle Management INR 15000/- and the lower level INR 10,000 per annum.
Rgds
RAM
From India, Mumbai
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.