Hi,
I wanted to know if I can mention my gross pay which includes (CTC+BONUS+ FIXED SHIFT ALLOWANCE) while applying to a new company.
Is it correct to mention the above 3 components clubbed together as CTC to the new company that I am applying to?
Ex: my ctc is 100 but yearly bonus (variable) is 12.5 and my shift allowance is 10 (yearly), so is it fine to mention my total CTC as 100+12.5+10 = 122.5 to the new company that I am applying to?
What would be some smart ways to put it in a nice way to the organization that I would be applying to?
From India, Bengaluru
I wanted to know if I can mention my gross pay which includes (CTC+BONUS+ FIXED SHIFT ALLOWANCE) while applying to a new company.
Is it correct to mention the above 3 components clubbed together as CTC to the new company that I am applying to?
Ex: my ctc is 100 but yearly bonus (variable) is 12.5 and my shift allowance is 10 (yearly), so is it fine to mention my total CTC as 100+12.5+10 = 122.5 to the new company that I am applying to?
What would be some smart ways to put it in a nice way to the organization that I would be applying to?
From India, Bengaluru
CTC is cost to the company, so all payments and facilities extended to you are a part of it. Bonus & Fixed Shift Allowance are part of CTC and has to be reckoned so. In deed in addition employer's share of EPF, annual gratuity premia, value of food concession etc. too could be included. You can get better details from your HR
From India, Mumbai
1534From India, Mumbai
@KK!HR Can I still mention about. shift allowance and bonus to the new company while negotiating even though its not included in my CTC now?
From India, Bengaluru
From India, Bengaluru
Hi,
Statutory Bonus and Shift Allowance are not considered as part of CTC, as bonus is dependent on your salary (Basic + DA), once this limit is exceeded you will not be eligible to receive bonus.
And shift allowance is an additional benefit for employees that only applies to those who work night or evening shifts for a specific time period.
Once your regular office hours change, you will no longer be paid the allowance.
So it is advisable not to add bonus and shift allowance with CTC.
Thanks
From India, Gurgaon
Statutory Bonus and Shift Allowance are not considered as part of CTC, as bonus is dependent on your salary (Basic + DA), once this limit is exceeded you will not be eligible to receive bonus.
And shift allowance is an additional benefit for employees that only applies to those who work night or evening shifts for a specific time period.
Once your regular office hours change, you will no longer be paid the allowance.
So it is advisable not to add bonus and shift allowance with CTC.
Thanks
From India, Gurgaon
CTC - Cost to Company. It is the amount any employer spent for any particular employee usually for a year. It may be actual (last year data) or it may be projected based on notional data. If an employee is covered under ESI which may discontinue after exceeding the salary beyond 21,000/- per month ( as on date) and after completion of contribution period is also part of CTC.
Therefore, if we calculate actual CTC for any year it should be based on actual data of that year which includes everything Organization spent for the employee - statutory bonus, night shift allowance, Employer ESI Contribution etc. etc.
But if we calculate projected CTC it cannot be accurate but a projection to get a feel. For organizations who are paying variable DA (may be revised monthly, qutrly, half yrly or yearly) will effect on CTC figure.
Actual CTC is always accurate figure and projected CTC is variable. CTC is a management tool to take idea regarding overall employee cost, fitment of new recruits based on internal comparison etc. etc.
S K Bandyopadhyay ( WB, Howrah)
CEO- USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
Therefore, if we calculate actual CTC for any year it should be based on actual data of that year which includes everything Organization spent for the employee - statutory bonus, night shift allowance, Employer ESI Contribution etc. etc.
But if we calculate projected CTC it cannot be accurate but a projection to get a feel. For organizations who are paying variable DA (may be revised monthly, qutrly, half yrly or yearly) will effect on CTC figure.
Actual CTC is always accurate figure and projected CTC is variable. CTC is a management tool to take idea regarding overall employee cost, fitment of new recruits based on internal comparison etc. etc.
S K Bandyopadhyay ( WB, Howrah)
CEO- USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
CTC Calculator.xls