hi,
I am working for an S/w comp, and i am in to sales and marketing.
Its an new company and when i was joining i was offered 2.52lacs as CTC. ( which is inclusive of annual component 48k, and it was said that it will be given after completion of one year).
now one year service has been completed, and i was in expecation that this 48k (48/12=4k ) will be added from the 13th month.and this 48k will be released.
But, i was told that 48k will given now, but this 4k will not be added form 13 th month. actually your CTC is 2.52 - 48 k = 2.04 and not 2.52.
My question is :
1.when i am joining my CTC is 2.52lacs, but after an year i was told that my CTC is 2.04lacs. how can this be possible and i feel there is no logic.
2. I would also like to know what excatly annual component means ?
Request to make me clear on the same.
Sri.
From India, Madras
I am working for an S/w comp, and i am in to sales and marketing.
Its an new company and when i was joining i was offered 2.52lacs as CTC. ( which is inclusive of annual component 48k, and it was said that it will be given after completion of one year).
now one year service has been completed, and i was in expecation that this 48k (48/12=4k ) will be added from the 13th month.and this 48k will be released.
But, i was told that 48k will given now, but this 4k will not be added form 13 th month. actually your CTC is 2.52 - 48 k = 2.04 and not 2.52.
My question is :
1.when i am joining my CTC is 2.52lacs, but after an year i was told that my CTC is 2.04lacs. how can this be possible and i feel there is no logic.
2. I would also like to know what excatly annual component means ?
Request to make me clear on the same.
Sri.
From India, Madras
Dear Sredharan,
Annual component is like a fixed amount which is a part of your CTC and it is been added in your CTC.. and been paid at the time of diwali as a bonus on pro-rata basis..
Somewhere it might be paid only after completion of one year or at the time of separation from the company..
No.. company can't reduce your CTC without having any proper valid reason..
So better talk with your Human Resources department.. and if they say that it is because of some amendment in the prevailing HR policy.. ask him to include it as some other component.. as they can't reduce your CTC without any prior notification..
Hope matter will be solved.. they must have framed some different structure..
Otherwise it will lead to affect attrition rate..
Regards,
Amit seth.
From India, Ahmadabad
496Annual component is like a fixed amount which is a part of your CTC and it is been added in your CTC.. and been paid at the time of diwali as a bonus on pro-rata basis..
Somewhere it might be paid only after completion of one year or at the time of separation from the company..
No.. company can't reduce your CTC without having any proper valid reason..
So better talk with your Human Resources department.. and if they say that it is because of some amendment in the prevailing HR policy.. ask him to include it as some other component.. as they can't reduce your CTC without any prior notification..
Hope matter will be solved.. they must have framed some different structure..
Otherwise it will lead to affect attrition rate..
Regards,
Amit seth.
From India, Ahmadabad
Hello,
Your annual component is a one time joining allowance which is paid only once during your joining only. companies may have differnt terms of paying this.
There is no rule of law for this.
This is actually a mal practice for headhunting from the competitors work strength.
Regards,
From India, Ahmadabad
Your annual component is a one time joining allowance which is paid only once during your joining only. companies may have differnt terms of paying this.
There is no rule of law for this.
This is actually a mal practice for headhunting from the competitors work strength.
Regards,
From India, Ahmadabad
Dear Amith,
You said that the annual component is added to the CTC, here I got a doubt like...
Here the CTC means including annual component or Excluding annual component ?
The annual component is also treated as cost to the company or not?
Please clarify my doubts......
From India, Mumbai
You said that the annual component is added to the CTC, here I got a doubt like...
Here the CTC means including annual component or Excluding annual component ?
The annual component is also treated as cost to the company or not?
Please clarify my doubts......
From India, Mumbai
Dear Mahadeva,, Yes.. it is also included in CTC.. as its also a cost to company which company is going to bear over the employee.. Hope now it must be clear with you..
From India, Ahmadabad
From India, Ahmadabad
Yes, Certainly.
As for the company for the first yeat it was a cost factor and hence they counted it as your CTC for that perticular year.
From the next your shall definitely be getting some hike in salary on the basis of your performance which may be or may not be equivillent to your annual component.
As i have mentioned in my previous posts it is an effective tool for head hunting. It is usually paid because the employees come from the other companies breaching the bonds and contracs signed with the company and hence they incur some financial liability. Just to meet them new companies pay this sort of allowances.
Regards,
From India, Ahmadabad
As for the company for the first yeat it was a cost factor and hence they counted it as your CTC for that perticular year.
From the next your shall definitely be getting some hike in salary on the basis of your performance which may be or may not be equivillent to your annual component.
As i have mentioned in my previous posts it is an effective tool for head hunting. It is usually paid because the employees come from the other companies breaching the bonds and contracs signed with the company and hence they incur some financial liability. Just to meet them new companies pay this sort of allowances.
Regards,
From India, Ahmadabad
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