HI
Actually i just started working.This month i got my salary.There is a great confusion as Employee & employer contribution both are deducted from my salary.I want to know Why they have deducted employer's contribution from my salary??
My CTC is 15000 per month.Please tell what should be my take home.
From India, New Delhi
Actually i just started working.This month i got my salary.There is a great confusion as Employee & employer contribution both are deducted from my salary.I want to know Why they have deducted employer's contribution from my salary??
My CTC is 15000 per month.Please tell what should be my take home.
From India, New Delhi
604
Please put up the Payslip component and amounts here ,, Earnings 1 2 3 4 5 TOTAL Deductions 1 2 3 4 5 TOTAL
From India, Madras
From India, Madras
Here is my salary break-up Basic-6232 HRA-3116 Convy-1246 Medical-1246 other-1246 LTA-519 Deductions PF-748 ESI-238 My CTC-15000
From India, New Delhi
From India, New Delhi
It is correct only naa yaar, 12% of Basic i.e 6232 is Rs.748/- which is employee contribution, employer contribution is seperate yaar ;)
From India, Madras
From India, Madras
your salary breakup & CTC is right bsic is 30% on CTC, PF is 12 % on basic,HRA is 40% on basic , i thnk u r clear nw.
From India, Pune
From India, Pune
This is for every one:
ex: CTC--15000
basic will differ from state to state.as per hyderabad basic is 40% from ctc
40% frm ctc===6000
from 6k cut 12% of emplyer cuttings==720
15000-720=14280.
your gross salary is 14280
from gross ur contribution of 12% vl be deducted and professional tax and ESI(Applicable for below 15700/-)
LTA depends on individual intrest
From India, Hyderabad
ex: CTC--15000
basic will differ from state to state.as per hyderabad basic is 40% from ctc
40% frm ctc===6000
from 6k cut 12% of emplyer cuttings==720
15000-720=14280.
your gross salary is 14280
from gross ur contribution of 12% vl be deducted and professional tax and ESI(Applicable for below 15700/-)
LTA depends on individual intrest
From India, Hyderabad
Hi Parul,
as Pon suggested many companies have this practice of deduction both employee and employer share from the CTC, but these thing should be discussed at the time of negotiations.
I have been telling many people about the same, that during negotiation, they should be aware of their compensation package and deductions, as it can affect your take home salary.
Try talking to HR again and if possible request them for renegotiation...i.e increasing the CTC by the amount they will be deducting ass employer share..it is possible...
From India, Delhi
as Pon suggested many companies have this practice of deduction both employee and employer share from the CTC, but these thing should be discussed at the time of negotiations.
I have been telling many people about the same, that during negotiation, they should be aware of their compensation package and deductions, as it can affect your take home salary.
Try talking to HR again and if possible request them for renegotiation...i.e increasing the CTC by the amount they will be deducting ass employer share..it is possible...
From India, Delhi
Dear Friend
Please try to understand the difference between, Nett Salary, Gross Salary and CTC.
Your Employer PF, Employer ESI, Bonus, approximate & confirmed Ex-gratia per annum, LTC/LTA, everything are considered as cost to the Company. In Gross the above will not be there but all the deductions will be available. Whereas the Nett Salary is the emolument what you carry to your home.
From India, Kumbakonam
Please try to understand the difference between, Nett Salary, Gross Salary and CTC.
Your Employer PF, Employer ESI, Bonus, approximate & confirmed Ex-gratia per annum, LTC/LTA, everything are considered as cost to the Company. In Gross the above will not be there but all the deductions will be available. Whereas the Nett Salary is the emolument what you carry to your home.
From India, Kumbakonam
Companies' Contribution to PF should be @12% of Basic+DA. Out of it 8.33% will go to EPS (Max Rs 542). And company should contribute on its own and it should not be deducted from the salary of the employee. However CTC is the cost to the company on anyone's employment and it includes all the contribution made by the company on behalf of the employee. However, the terms of appointment should also be considered.
(Sandip Sengupta)
From India, Asansol
(Sandip Sengupta)
From India, Asansol
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