Dear HR Professionals & Seniors,
I want to know which government (State/Central) approved CTC (Cost To Company).
If you have any gazette notification for the same, please provide me.
Presently all employers are hiring employees in CTC Basis.
Employer is not providing any Bonus, Incentives, Increments, Gratuity, compensation , overtime double wages, holiday double wages to employees, and deducting PF and ESI amount of employers part also from employees salary.
Is this called CTC?
CTC Is Violating The Payment Of Gratuity Act, 1972, Payment Of Bonus Act, 1965, Esi Act, 1948, Epf & Misc. Prov. Act, 1952, The Workmen's Compensation Act, 1923, Factories Act, 1948, Payment Of Wages Act, 1936, Industrial Employment (Standing Orders) Act, 1946, Minimum Wages Act, 1948, Equal Remuneration Act, 1976, Etc.?
Please clarify me who approved the CTC?
What are the particulars like Basic,DA, HRA, Travel allowances, LTA, Extra - Gratia, etc., included in CTC?
Please clarify me
Thanks with Regards
Thirumurugan
From India, Hyderabad
32I want to know which government (State/Central) approved CTC (Cost To Company).
If you have any gazette notification for the same, please provide me.
Presently all employers are hiring employees in CTC Basis.
Employer is not providing any Bonus, Incentives, Increments, Gratuity, compensation , overtime double wages, holiday double wages to employees, and deducting PF and ESI amount of employers part also from employees salary.
Is this called CTC?
CTC Is Violating The Payment Of Gratuity Act, 1972, Payment Of Bonus Act, 1965, Esi Act, 1948, Epf & Misc. Prov. Act, 1952, The Workmen's Compensation Act, 1923, Factories Act, 1948, Payment Of Wages Act, 1936, Industrial Employment (Standing Orders) Act, 1946, Minimum Wages Act, 1948, Equal Remuneration Act, 1976, Etc.?
Please clarify me who approved the CTC?
What are the particulars like Basic,DA, HRA, Travel allowances, LTA, Extra - Gratia, etc., included in CTC?
Please clarify me
Thanks with Regards
Thirumurugan
From India, Hyderabad
Dear HR Professionals & Seniors,
I want to know which government (State/Central) approved CTC (Cost To Company).
If you have any gazette notification for the same, please provide me.
Presently all employers are hiring employees in CTC Basis.
Employer is not providing any Bonus, Incentives, Increments, Gratuity, compensation , overtime double wages, holiday double wages to employees, and deducting PF and ESI amount of employers part also from employees salary.
Is this called CTC?
CTC Is Violating The Payment Of Gratuity Act, 1972, Payment Of Bonus Act, 1965, Esi Act, 1948, Epf & Misc. Prov. Act, 1952, The Workmen's Compensation Act, 1923, Factories Act, 1948, Payment Of Wages Act, 1936, Industrial Employment (Standing Orders) Act, 1946, Minimum Wages Act, 1948, Equal Remuneration Act, 1976, Etc.?
Please clarify me who approved the CTC?
What are the particulars like Basic,DA, HRA, Travel allowances, LTA, Extra - Gratia, etc., included in CTC?
Please clarify me
Thanks with Regards
Thirumurugan
From India, Hyderabad
I want to know which government (State/Central) approved CTC (Cost To Company).
If you have any gazette notification for the same, please provide me.
Presently all employers are hiring employees in CTC Basis.
Employer is not providing any Bonus, Incentives, Increments, Gratuity, compensation , overtime double wages, holiday double wages to employees, and deducting PF and ESI amount of employers part also from employees salary.
Is this called CTC?
CTC Is Violating The Payment Of Gratuity Act, 1972, Payment Of Bonus Act, 1965, Esi Act, 1948, Epf & Misc. Prov. Act, 1952, The Workmen's Compensation Act, 1923, Factories Act, 1948, Payment Of Wages Act, 1936, Industrial Employment (Standing Orders) Act, 1946, Minimum Wages Act, 1948, Equal Remuneration Act, 1976, Etc.?
Please clarify me who approved the CTC?
What are the particulars like Basic,DA, HRA, Travel allowances, LTA, Extra - Gratia, etc., included in CTC?
Please clarify me
Thanks with Regards
Thirumurugan
From India, Hyderabad
The norm of Cost to Company has been vogue for close to 15 to 20 years if my understanding is correct.
Any which ways if the take home salary is more than what is subscribed as per the Minimum Wages Act who is to question the company?
Yes, this is a contentious issue let us see if seniors here are answering it
From India, Chennai
Any which ways if the take home salary is more than what is subscribed as per the Minimum Wages Act who is to question the company?
Yes, this is a contentious issue let us see if seniors here are answering it
From India, Chennai
Only company fixes CTC. This helps the company probably to remain alert about the cost of establishment, budgeting and cash flow for running the affairs of the company.
There is no role of Government to play in fixing CTC. If violations of any law is observed, the employee or his union can take up appropriately with the management and on dispute the competent court of law.
From India, Delhi
There is no role of Government to play in fixing CTC. If violations of any law is observed, the employee or his union can take up appropriately with the management and on dispute the competent court of law.
From India, Delhi
Hi to All,
I am working PSU.
In recruitment advertisement shown as approx CTC amount for particular post where as appointment letter shown as basic salary amount in particular scale and other amount which given as per govt norms in the organization.
Hence, as per my knowledge, no CTC system in Central/State/PSU/other Govt organization.
Regards/sarma
From India, Hyderabad
I am working PSU.
In recruitment advertisement shown as approx CTC amount for particular post where as appointment letter shown as basic salary amount in particular scale and other amount which given as per govt norms in the organization.
Hence, as per my knowledge, no CTC system in Central/State/PSU/other Govt organization.
Regards/sarma
From India, Hyderabad
If you go through my posts about CTC you will find that I use to repeatedly say that this is only a practice and has no legal backing. It is okay in one way that by declaring CTC the employer is show casing his offer in a better way so that he can attract good candidates. At the same time, if you fall on this CTC unknowingly, then you are stuck.
Please follow the link
Madhu.T.K: CTC Vs BTC
Madhu.T.K
From India, Kannur
Please follow the link
Madhu.T.K: CTC Vs BTC
Madhu.T.K
From India, Kannur
Dear PSDHINGRA,
If employer is not providing any Bonus, Incentives, Increments, Gratuity, compensation , overtime double wages, holiday double wages to employees, and deducting PF and ESI amount of employers part also from employees salary, Is this correct in all circumstances?
Simply employer telling that we (employer) have recruited you (employee) in CTC basis, All components like Basic,DA, HRA, Travel allowances, LTA, Extra - Gratia, Bonus, Gratuity, etc., everything included in that CTC. We can't pay extra payment apart from your monthly salary in any situation. Is this correct? and deducting PF and ESI amount of employers part also from employees salary.
Is this not violating any labour laws of india (The Payment Of Gratuity Act, 1972, Payment Of Bonus Act, 1965, Esi Act, 1948, Epf & Misc. Prov. Act, 1952, The Workmen's Compensation Act, 1923, Factories Act, 1948, Payment Of Wages Act, 1936, Industrial Employment (Standing Orders) Act, 1946, Minimum Wages Act, 1948, Equal Remuneration Act, 1976, Contract labour act, Maternity benefit act, Etc.)
If employer is recruiting all the employees in CTC basis, what is the use above said indian labour laws.
Employer is not spending even one rupee towards employees except employees monthly salary, Is this called CTC?
Thanks with Regards
T.Thirumurugan
From India, Hyderabad
If employer is not providing any Bonus, Incentives, Increments, Gratuity, compensation , overtime double wages, holiday double wages to employees, and deducting PF and ESI amount of employers part also from employees salary, Is this correct in all circumstances?
Simply employer telling that we (employer) have recruited you (employee) in CTC basis, All components like Basic,DA, HRA, Travel allowances, LTA, Extra - Gratia, Bonus, Gratuity, etc., everything included in that CTC. We can't pay extra payment apart from your monthly salary in any situation. Is this correct? and deducting PF and ESI amount of employers part also from employees salary.
Is this not violating any labour laws of india (The Payment Of Gratuity Act, 1972, Payment Of Bonus Act, 1965, Esi Act, 1948, Epf & Misc. Prov. Act, 1952, The Workmen's Compensation Act, 1923, Factories Act, 1948, Payment Of Wages Act, 1936, Industrial Employment (Standing Orders) Act, 1946, Minimum Wages Act, 1948, Equal Remuneration Act, 1976, Contract labour act, Maternity benefit act, Etc.)
If employer is recruiting all the employees in CTC basis, what is the use above said indian labour laws.
Employer is not spending even one rupee towards employees except employees monthly salary, Is this called CTC?
Thanks with Regards
T.Thirumurugan
From India, Hyderabad
Mr. Thirumurugan,
By merely raising academic question without discussing the real problem cannot solve your problem, if threre be any. for example, you have raised a question, "who approved the CTC" by referring almost all the employment laws in ge3neral, e.g., "CTC Is Violating The Payment Of Gratuity Act, 1972, Payment Of Bonus Act, 1965, Esi Act, 1948, Epf & Misc. Prov. Act, 1952, The Workmen's Compensation Act, 1923, Factories Act, 1948, Payment Of Wages Act, 1936, Industrial Employment (Standing Orders) Act, 1946, Minimum Wages Act, 1948, Equal Remuneration Act, 1976, Etc.?"
Your main question "who approved the CTC" has been answered by the members.
When you assumed almost all the laws to have been violated, the question arises, HOW ALL SUCH LAWS CAN BE FLOUTED AT A TIME BY CTC? You could have given some examples, how you treat that all such laws have been violated by fixing CTC.
However, if you have some personal problem, you could have discussed that threadbare to get appropriate reply from the members as based on their knowledge and experience.
May be violating any law, but when you have accepted the CTC as specified in your offer/ appointment letter and unless you dare to go to the competent court of law to take up the case of violation of any law,, who will decide that as illegal? It is the employees or the employees union, who should raise the issue before the management or the court of law by pinpointing specific violation. By merely knowing that it is illegal or by merely making a statement, "CTC Is Violating The Payment Of Gratuity Act, 1972, Payment Of Bonus Act, 1965, Esi Act, 1948, Epf & Misc. Prov. Act, 1952, The Workmen's Compensation Act, 1923, Factories Act, 1948, Payment Of Wages Act, 1936, Industrial Employment (Standing Orders) Act, 1946, Minimum Wages Act, 1948, Equal Remuneration Act, 1976, Etc." that can not serve the purpose of individuals or the employees in general.
BETTER STATE THE REAL FACT, INSTEAD OF UNDULY STRETCHING THE THREAD THAT CAN TEND TO CREATE ONLY MISUNDERSTANDINGS & CONFUSIONS IN THE MINDS OF THE MEMBERS.
From India, Delhi
By merely raising academic question without discussing the real problem cannot solve your problem, if threre be any. for example, you have raised a question, "who approved the CTC" by referring almost all the employment laws in ge3neral, e.g., "CTC Is Violating The Payment Of Gratuity Act, 1972, Payment Of Bonus Act, 1965, Esi Act, 1948, Epf & Misc. Prov. Act, 1952, The Workmen's Compensation Act, 1923, Factories Act, 1948, Payment Of Wages Act, 1936, Industrial Employment (Standing Orders) Act, 1946, Minimum Wages Act, 1948, Equal Remuneration Act, 1976, Etc.?"
Your main question "who approved the CTC" has been answered by the members.
When you assumed almost all the laws to have been violated, the question arises, HOW ALL SUCH LAWS CAN BE FLOUTED AT A TIME BY CTC? You could have given some examples, how you treat that all such laws have been violated by fixing CTC.
However, if you have some personal problem, you could have discussed that threadbare to get appropriate reply from the members as based on their knowledge and experience.
May be violating any law, but when you have accepted the CTC as specified in your offer/ appointment letter and unless you dare to go to the competent court of law to take up the case of violation of any law,, who will decide that as illegal? It is the employees or the employees union, who should raise the issue before the management or the court of law by pinpointing specific violation. By merely knowing that it is illegal or by merely making a statement, "CTC Is Violating The Payment Of Gratuity Act, 1972, Payment Of Bonus Act, 1965, Esi Act, 1948, Epf & Misc. Prov. Act, 1952, The Workmen's Compensation Act, 1923, Factories Act, 1948, Payment Of Wages Act, 1936, Industrial Employment (Standing Orders) Act, 1946, Minimum Wages Act, 1948, Equal Remuneration Act, 1976, Etc." that can not serve the purpose of individuals or the employees in general.
BETTER STATE THE REAL FACT, INSTEAD OF UNDULY STRETCHING THE THREAD THAT CAN TEND TO CREATE ONLY MISUNDERSTANDINGS & CONFUSIONS IN THE MINDS OF THE MEMBERS.
From India, Delhi
Dear Thirumurugan,
CTC is an abbreviation for COST TO COMPANY. This naturally includes every rupee spent by the organisation ( Company) towards particular employee.
Thus, while calculating CTC, each and every payment; whether it is percentage of PF, ESIC (Employers' share), Gratuity, including any other welfare payments are taken in to account. CTC is merely a term exactly depicting the cost to the company for hiring particular position. In other words, all lawful, ex-gratia, and other willful payments made/to be made in respect of particular employee / position constitute CTC. Hence mere using the term CTC does not violate any act.
Having clearly understood this; there should not be any more confusion.
Rgds,
Arun Dixit.
9420696660
020 2437 6185
CTC is an abbreviation for COST TO COMPANY. This naturally includes every rupee spent by the organisation ( Company) towards particular employee.
Thus, while calculating CTC, each and every payment; whether it is percentage of PF, ESIC (Employers' share), Gratuity, including any other welfare payments are taken in to account. CTC is merely a term exactly depicting the cost to the company for hiring particular position. In other words, all lawful, ex-gratia, and other willful payments made/to be made in respect of particular employee / position constitute CTC. Hence mere using the term CTC does not violate any act.
Having clearly understood this; there should not be any more confusion.
Rgds,
Arun Dixit.
9420696660
020 2437 6185
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