Anybody, can please help me out that how can I define the new CTC of my employees along with PF deduction, TDS Deduction, and PT Deduction. How will the employer contribution be calculated in CTC? Is it displayed in the Employee Salary slip or not?
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From India, Bhopal
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Please let me know if you need further assistance.
From India, Bhopal
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Dear friend,
I hope that you are already familiar with what C.T.C. actually is, and therefore, I refrain from explaining it. Whether statutory or not, an employee's salary slip is a statement that simply shows the gross salary earned during the salary period, with a breakdown of figures for basic pay and other individual allowances as per the employment contract. It also includes deductions made under various headings and the net amount receivable.
Furthermore, C.T.C. represents the projected annual cost per employee, which encompasses the employer's contributions of different periodicities as well as the annual cost of other perquisites. It is not pertinent to the content of a salary slip.
Thank you.
From India, Salem
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6185I hope that you are already familiar with what C.T.C. actually is, and therefore, I refrain from explaining it. Whether statutory or not, an employee's salary slip is a statement that simply shows the gross salary earned during the salary period, with a breakdown of figures for basic pay and other individual allowances as per the employment contract. It also includes deductions made under various headings and the net amount receivable.
Furthermore, C.T.C. represents the projected annual cost per employee, which encompasses the employer's contributions of different periodicities as well as the annual cost of other perquisites. It is not pertinent to the content of a salary slip.
Thank you.
From India, Salem
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SALARY SHEET CALCULATION.xls