The question asked, to mu opinion, is can statutory benefits such as PF/ESI/Gratuity, etc. can be included in calculating CTC. What are the components of calculating CTC
From India, Calcutta
5From India, Calcutta
Dear Mr. Singh,
All the statutory compliances which includes Employer share will be calculated in CTC.
In ESI 4.75%
In PF 13.61%
LWF
Bonus
Gratuity (It is five years term, whenever employee complets his five years regular services he will be elligible for gratuity, if he leaves the service. On that time it will include in CTC)
Sanjeev
From India, New Delhi
All the statutory compliances which includes Employer share will be calculated in CTC.
In ESI 4.75%
In PF 13.61%
LWF
Bonus
Gratuity (It is five years term, whenever employee complets his five years regular services he will be elligible for gratuity, if he leaves the service. On that time it will include in CTC)
Sanjeev
From India, New Delhi
Hi,
There is no concrete/Standard funda for CTC items. It varies from organisation to organisation. However I am giving general idae for CTC items:
1. Basic Pay
2. DA
3. HRA
4. Personbal Allowances
5. Conveyance Allowance
6. Convyence Re-imbursement
7. LTA
8. Medical Allownace
9. Education Allowance
10. Any other Allownces
All Above constitute GROSS SALARY (Part A)
Part B includes
11. Employers share PF/ESI
12.Gratuity 4.81% of Basic Pay
13.Leave Encahsment
14. Mess subsidy
15. Incentive, if any
16. Cost of Uniform, if provided
17. Petrol Expenses
18. All other perks
The sum of A and B will arrive at CTC(Cost to the Company)
Regards
V K Sharma
Tarapur
There is no concrete/Standard funda for CTC items. It varies from organisation to organisation. However I am giving general idae for CTC items:
1. Basic Pay
2. DA
3. HRA
4. Personbal Allowances
5. Conveyance Allowance
6. Convyence Re-imbursement
7. LTA
8. Medical Allownace
9. Education Allowance
10. Any other Allownces
All Above constitute GROSS SALARY (Part A)
Part B includes
11. Employers share PF/ESI
12.Gratuity 4.81% of Basic Pay
13.Leave Encahsment
14. Mess subsidy
15. Incentive, if any
16. Cost of Uniform, if provided
17. Petrol Expenses
18. All other perks
The sum of A and B will arrive at CTC(Cost to the Company)
Regards
V K Sharma
Tarapur
1. Basic Pay is 40% of CTC (percetage varies from organisation to organisation) in all the component of CTC
2. HRA 40%/50% of Basic Pay(Varies from A or B class City as prescribed in Iincome Tax Act
3. LTA as per Income tax Act (some organisation give monthly @12%or 8.33%) some give as per Income Tax provisions.
4. Medical Allowance (some organisation give monthly @12%or 8.33%) some give as per Income Tax provisions.
5. Personal Allowance(This is Fitment for CTC)
6. Education Allaownace (As per Income Tax)
7. Ex- Gratia (This is Fitment for CTC)
8. PF/ESI/MLWF as per relevent Act, Employers Share only
9. Gratuity 4.81% of Basic Pay(includindg DA, where applicable)
10. Leave as per applicability(Encahsment varies from Organiastion to organiastion-some pay on Basic Pay, some pay on Gross Salary.)
11. Food Subsidy/Conveyance Subsidy
12. Conveyance reimbursement
13. Petrol Expenses at higher level, or where applicable say sales man
14. Entertainmemt Allowances as per IT Act
15. Bonus as per Bonus Act
I think this will suffice your requirement.
Till then Good day!
V K Sharma
Tarapur
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CTC CALCULATION SHEET.xls