Dear SK,
You have received a number of replies and among them the inputs from Ashish Ovekaker is the most comprehensive and reflective of 'CTC'. I fully endorse his views. All cost related to an employee would be 'cost to company' - and it has become a practice to ignore some basic common benefits like uniforms, subsidised food, annual gifts, cost of festival / personal advances etc. They are more by exception than rule.
Venkatrangan
From India, Thana
1You have received a number of replies and among them the inputs from Ashish Ovekaker is the most comprehensive and reflective of 'CTC'. I fully endorse his views. All cost related to an employee would be 'cost to company' - and it has become a practice to ignore some basic common benefits like uniforms, subsidised food, annual gifts, cost of festival / personal advances etc. They are more by exception than rule.
Venkatrangan
From India, Thana
First of all I would like to mention why CTC is designed like BASIC+DA, medical allowance,HRA etc. It is because otherwise there would not be any tax exemption.
PF contribution from employer side is no way to be counted in CTC of employee
From India, Surat
PF contribution from employer side is no way to be counted in CTC of employee
From India, Surat
Hi all, In recent days these things have started up,wherein employer shows his contribution towards PF as part of CTC just to inflate the package.
From India, Bangalore
From India, Bangalore
Dear Singh, P.F. contribution employers' side is a part of CTC . each and every benifits passes to employee will cost to company & it will be part of CTC. THANX 'N' REGARDS MANU BAGHEL
From India
From India
Dear all,
PF can be considered as CTC. CTC means Cost to Company. The expenditure on employee is statutory or optional is irrelevant in concluding CTC. Any how, it will be immoral if you show Employers contribution in CTC directly. First of all reckon Gross salary. Thenafter, you can add Employer's contribution to his Gross salary. By this way you can conclude CTC.
Bai,
P.Sathish Kumar
From India, Jaipur
PF can be considered as CTC. CTC means Cost to Company. The expenditure on employee is statutory or optional is irrelevant in concluding CTC. Any how, it will be immoral if you show Employers contribution in CTC directly. First of all reckon Gross salary. Thenafter, you can add Employer's contribution to his Gross salary. By this way you can conclude CTC.
Bai,
P.Sathish Kumar
From India, Jaipur
Dear Yasmin, R u sure abt the contribution of employer??? It is same as employees contribution i.e 12% Regards Supriya
From India, Thana
From India, Thana
Dear Supriya
The additional 1.61 % is the administration charges paid to the CPF organization, that a company has to bear.
To understand better, Please go through the earlier posts CAREFULLY.
Regards.
From India, Delhi
The additional 1.61 % is the administration charges paid to the CPF organization, that a company has to bear.
To understand better, Please go through the earlier posts CAREFULLY.
Regards.
From India, Delhi
All the salary heads will come under CTC.Both Employers and Employees contribution is added into the CTC,but Employer's Contribution will be shown as separate head,whereas Employees contribution will not be shown as separate head.
Regards
Ignatius.L
Simplicity should be the fashion, style and way of living for all.
From India, Madras
Regards
Ignatius.L
Simplicity should be the fashion, style and way of living for all.
From India, Madras
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CTC Calculator with PT, PF and ESIC.xls
PF not applicable on CTC 18.3.2014.pdf