If anyone can update me on that when a employee (starting from an Executive to the Top Management ) joins a new company after leaving the old one, then what components of his salray are considered by the new company while giving him a raise/ hike in his salary?
2. Are the concepts of CTC & Gross salary same or there is/ are some underlying differences between them ?
Thanks
:roll:
From India, Delhi
102. Are the concepts of CTC & Gross salary same or there is/ are some underlying differences between them ?
Thanks
:roll:
From India, Delhi
Hi Prashanth,
Iam sorry, but I did not get the link between a new joinee and his increment. By the time the joinee falls in line for the increment, he would have become old for the company and his previous company's salary is no way related.
Please let me know if I have understood your question wrong.
There is difference between CTC and Gross salary. In simple terms, what I have understood of them is:
NET SALARY
+ Employee Deductions like PF, ESI, Professional Tax etc.
___________________________
GROSS SALARY
+ Employer Contributions like PF, ESI etc.
___________________________
COST TO COMPANY
I hope you have understood the difference.
Regards,
Soumya Shankar
From India, Bangalore
Iam sorry, but I did not get the link between a new joinee and his increment. By the time the joinee falls in line for the increment, he would have become old for the company and his previous company's salary is no way related.
Please let me know if I have understood your question wrong.
There is difference between CTC and Gross salary. In simple terms, what I have understood of them is:
NET SALARY
+ Employee Deductions like PF, ESI, Professional Tax etc.
___________________________
GROSS SALARY
+ Employer Contributions like PF, ESI etc.
___________________________
COST TO COMPANY
I hope you have understood the difference.
Regards,
Soumya Shankar
From India, Bangalore
Employee salary will be negotiated after the completion of the interview formalities. Usually salary will be negotiated in terms of Cost to the company. CTC has two major Parts ie Fixed and flexible. Fixed components are Basic salary(Some % of CTC) , HRA (Some % of Basic), PF (employer) and Gratuity. Flexible components
are Medical reimbursement ( limit 15000/- per annum), conveyance 9600 per annum), Children educational allowance, House rent allowance etc
aditya
are Medical reimbursement ( limit 15000/- per annum), conveyance 9600 per annum), Children educational allowance, House rent allowance etc
aditya
Hi Soumya ,
Thanks for the answers but still I think that there was some confusion remained. I will try to make you understand with help of an example.
Lets say for an example : You are an employee of some XYZ Co. as a IT Manager. You gave an interview with some other IT Co say ABC , they liked you & they want to hire you . Now my question was that while giving an offer to you to join their Co. ABC would definitely propose a particular hike or raise in your current salary so that you might be intrested in joining them . What I want to know that while calculating that hike/ raise in your salary which they would be proposing what Comoponents of your current salary would they take into consideration while proposing the raise. Is it going to be (Basic Pay + HRA) or more things would be included in that as a standard items to calculate a raise/hike ?
2. By the second question I meant that . What are the components that would be included in the salary while calculating CTC & similarly what would be the components that would be included in the salary while calculating a Gross Salary.
Hope I will be more clear now
Waiting to hear from you
:roll:
From India, Delhi
Thanks for the answers but still I think that there was some confusion remained. I will try to make you understand with help of an example.
Lets say for an example : You are an employee of some XYZ Co. as a IT Manager. You gave an interview with some other IT Co say ABC , they liked you & they want to hire you . Now my question was that while giving an offer to you to join their Co. ABC would definitely propose a particular hike or raise in your current salary so that you might be intrested in joining them . What I want to know that while calculating that hike/ raise in your salary which they would be proposing what Comoponents of your current salary would they take into consideration while proposing the raise. Is it going to be (Basic Pay + HRA) or more things would be included in that as a standard items to calculate a raise/hike ?
2. By the second question I meant that . What are the components that would be included in the salary while calculating CTC & similarly what would be the components that would be included in the salary while calculating a Gross Salary.
Hope I will be more clear now
Waiting to hear from you
:roll:
From India, Delhi
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