Hi friends,
I am new to the forum.
I am serving in Defence, planning for a change to the corporate sector. I find it difficult in calculating my annual CTC. I would like to know, whether it is only as per my salary statement or should I include other benefits like free medical facilities, accommodation, ration, clothings, bonus, gratuity, leave travel benefits, pension, insurance etc. If yes, how can we calculate the monetary value of the intangibles and facilities which we get in forces. Hope I will get a detailed response in this subject from all.
Thank you,
Ramesh.
From India, Bangalore
I am new to the forum.
I am serving in Defence, planning for a change to the corporate sector. I find it difficult in calculating my annual CTC. I would like to know, whether it is only as per my salary statement or should I include other benefits like free medical facilities, accommodation, ration, clothings, bonus, gratuity, leave travel benefits, pension, insurance etc. If yes, how can we calculate the monetary value of the intangibles and facilities which we get in forces. Hope I will get a detailed response in this subject from all.
Thank you,
Ramesh.
From India, Bangalore
I would like to inform you, you should not only count CTC as per your salary statement but should include other benefits like free medical facilities (which premium paid by organization), accommodation, ration, clothings, bonus, leave travel benefits, transportation facilities, telecommunication facilities(if your mobile, resident phone bill paid by the organization etc, after your five years services you can count Gratuity.
Hi,
most of the private companies have now removed intangibles income as it comes under FBT...
in private sector it's mostly divided into following parts:
Basic: 40% of CTC
Convenance: 800 pm
PF: 12% of basic
Medical: 15000 p.a.
LTA: 12000 p.a.
Variable & Personal pay- if applicable......
But companies also have one account for Reimbursement:
e.g. telephone (call bills), transfer bills, relocation bills, hospital insurance, pension plans, sick leave, business travel trip, awards, performance incentives, bonus....etc.
From India, Pune
4most of the private companies have now removed intangibles income as it comes under FBT...
in private sector it's mostly divided into following parts:
Basic: 40% of CTC
Convenance: 800 pm
PF: 12% of basic
Medical: 15000 p.a.
LTA: 12000 p.a.
Variable & Personal pay- if applicable......
But companies also have one account for Reimbursement:
e.g. telephone (call bills), transfer bills, relocation bills, hospital insurance, pension plans, sick leave, business travel trip, awards, performance incentives, bonus....etc.
From India, Pune
Dear All Members of the forum,
I have joined a company that company is calculating my salary on CTC basis.
In my CTC they are calculating gratuity also and deduct in my CTC.
This is right or wrong?
Please guide me.
Thanks a lot
Amit Kumar garg
From India, Mumbai
I have joined a company that company is calculating my salary on CTC basis.
In my CTC they are calculating gratuity also and deduct in my CTC.
This is right or wrong?
Please guide me.
Thanks a lot
Amit Kumar garg
From India, Mumbai
Hi,
As the name suggest all expenses incurred on behalf of the employee by the company form part of the CTC. The typical co,ponents of CTC are
1. Basic
2.HRA and all other allowances(Conveyance,Dearness,special etc)
3.PF and Gratuity payable by the co.
4.Insurance payable by co.
5.Canteen/Uniform etc.
Hope this clarifies
As the name suggest all expenses incurred on behalf of the employee by the company form part of the CTC. The typical co,ponents of CTC are
1. Basic
2.HRA and all other allowances(Conveyance,Dearness,special etc)
3.PF and Gratuity payable by the co.
4.Insurance payable by co.
5.Canteen/Uniform etc.
Hope this clarifies
CTC may includes : Basic + HRA + Medical Allowance+ LTA (depends on co policy)+ Bonus + P.F Contribution (by co)+ ESIC contribution (by co) + Travelling Allowances+CCA K. Shaikh
From India, Mumbai
From India, Mumbai
Hi Monika,
The term CTC means cost to the company. Whatever company is incurring on u comes in CTC.Total compensation includes the value of all the perks and benefits one gets from the Company in addition to ones salary.
Following are the components which comes in CTC.
FIXED SALARY
Basic Salary
House Rent Allowance
Company Leased Accomodation
City Compensatory Allowance
Special Allowance
Conveyance Allowance
REIMBURSEMENTS
MEAL COUPONS
Entertainment
Books/Periodicals
Education
House Maintenance Allowance
Furnishing Allowance
Dress/Uniform Allowance
Other Allowances
BENEFITS/ PERKS
Company car
Driver’s Salary
Maintenance and Petrol Expenses
Leave Travel Allowance
Canteen Subsidy
Telephone Expenses
Mobile Phone
Club Membership
Electricity/Gas
Servant/Gardener
Credit Cards
Furnishings/Durables
Holiday Facilities
Medical Reimbursements
Medical Insurance
RETIRALS
Provident Fund
Superannuation
Gratuity
BONUS
Fixed Bonus
Productivity Linked Variable Bonus(*)
Any Other Performance Oriented Incentive including Stock Option Plan(*)
The above mentioned components comes in CTC.
KATYANA
From India, Gurgaon
The term CTC means cost to the company. Whatever company is incurring on u comes in CTC.Total compensation includes the value of all the perks and benefits one gets from the Company in addition to ones salary.
Following are the components which comes in CTC.
FIXED SALARY
Basic Salary
House Rent Allowance
Company Leased Accomodation
City Compensatory Allowance
Special Allowance
Conveyance Allowance
REIMBURSEMENTS
MEAL COUPONS
Entertainment
Books/Periodicals
Education
House Maintenance Allowance
Furnishing Allowance
Dress/Uniform Allowance
Other Allowances
BENEFITS/ PERKS
Company car
Driver’s Salary
Maintenance and Petrol Expenses
Leave Travel Allowance
Canteen Subsidy
Telephone Expenses
Mobile Phone
Club Membership
Electricity/Gas
Servant/Gardener
Credit Cards
Furnishings/Durables
Holiday Facilities
Medical Reimbursements
Medical Insurance
RETIRALS
Provident Fund
Superannuation
Gratuity
BONUS
Fixed Bonus
Productivity Linked Variable Bonus(*)
Any Other Performance Oriented Incentive including Stock Option Plan(*)
The above mentioned components comes in CTC.
KATYANA
From India, Gurgaon
Hi all,
I am new to this forum and its a very informative site ! I am working as HR executive in a start up recruitment consultancy. I need some inputs on the topicslisted below. Can anyone help me out please ?
> What is the salary structure (Basic and Incentive structure) for business developers in a recruitment consultancy ?
> What could be the leave poilcy for a start up consultancy?
Thanks in advance !
I am new to this forum and its a very informative site ! I am working as HR executive in a start up recruitment consultancy. I need some inputs on the topicslisted below. Can anyone help me out please ?
> What is the salary structure (Basic and Incentive structure) for business developers in a recruitment consultancy ?
> What could be the leave poilcy for a start up consultancy?
Thanks in advance !
The concept of showing the Salary of an employee in the form of CTC (Cost To Company) is a new style idea developed by the companies to attract employees. Since the CTC includes all cost to be incurred by employing a person projecting the employment to a period coming after 5 years in addition to the actual remuneration payable every month, the amount OFFERED will be a big one. This is just to attract employees. I have come across to see a salary structure with medical reimbursement made a part of CTC. The poor employee expected the same also as receivable every month. But he was denied of it saying adequate proof is not given for having spent the amount. Similarly for many the meaning of Gratuity is nor aware. They feel that they will get it every month! They do not know the gratuity is payable only after they complete 5 years with the employer.
Therefore, do not belive in CTC concept. When accepting a job think whether the monthly salary alone is acceptable or not. Do not take the CTC since there is no where mentioned about BTC ( Benefit To the Company by employing a person- in fact if there is cost involved there should be benefit also !!!!)
Regards,
Madhu.T.K
From India, Kannur
Therefore, do not belive in CTC concept. When accepting a job think whether the monthly salary alone is acceptable or not. Do not take the CTC since there is no where mentioned about BTC ( Benefit To the Company by employing a person- in fact if there is cost involved there should be benefit also !!!!)
Regards,
Madhu.T.K
From India, Kannur
Hi Friends,
It is a simple topic, but still a confusing one i think. Anyways our friend Amit as got the solution for his problem.
Amit what all have told is correct Gratuity is part of CTC as the name says Cost To Company i.e total cost that the company will incur on you. Hope many of our friends have got this clarified.
Regards
Amith R.
From India, Bangalore
It is a simple topic, but still a confusing one i think. Anyways our friend Amit as got the solution for his problem.
Amit what all have told is correct Gratuity is part of CTC as the name says Cost To Company i.e total cost that the company will incur on you. Hope many of our friends have got this clarified.
Regards
Amith R.
From India, Bangalore
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