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malaya1970
Is it Correct to show ,as deduction , bonus amount in salary sheet/pay slip by showing the gross monthly CTC amount. Is there any statutory complicity in showing that .
From India, Bhubaneswar
tsivasankaran
368

CTC is an internal calculation. In fact ti has to be used only for negotiation.I come across with many posting here saying twhether Bonus or PF can be shown in Pay slip. Then why not Gratuity? Why not other benefits?

STEP 1

Basic plus DA plus HRA+ Conveyance + other allowances payable every month

STEP 2

Monthly incentives * monthly reimbursements

STEP 3

Annual Payments like LTA Medical, Performance Pay, Bonus

Step 4

Employers contribution towards PF,ESI etc and gratuity. Any amount payable towards superannuation

STEP 5

Cost of Car/Cost of interest on Loans/

All these put together form CTC. There is no legal definition for CTC. Some Companies even add Canteen subside/travel subsidy/Accident insurance etc

In senior positions, some companies add vacation cost to CTC.

In a Payslip, which is given every month one need to show the following only

STEP 1 retcated items which form monthly earnings

Step 2 related items which form monthly reimbursements

STEP 4 related deductions plus other deductions like IT Professional Tax loan recovery etc

No other items should be shown in the Pay slip. I also do not understand as to what purpose it serves?

From India, Chennai
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