I am working in a plywood manufacturing company. My total CTC is Rs. 15,000, and my gross salary is Rs. 12,000 with a basic salary also of Rs. 12,000. My take-home pay is Rs. 10,000, which is below the basic salary. I am okay with receiving below the basic salary, especially since the basic and gross salaries are the same. I have an MBA in finance.
From Egypt, Cairo
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From Egypt, Cairo
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I have no idea about the Egyptian Labor Laws relating to the payment of wages/salaries. However, what I am sure about is that CTC is a mere statement of projection of the overall cost per employee per annum incurred by the employer, inclusive of all direct and indirect benefits, both statutory and contractual. Hence, it should not be taken as the gross amount or net amount payable at the end of any wage/salary period.
When you say that your gross and basic are one and the same, it implies that your salary is only a consolidated salary and not a structured one comprising different components. Kindly check, please.
If, on the other hand, you are working in any branch of any Foreign Company in India, then also it cannot be an issue if your gross salary is at par or more than the statutory minimum wages, if any, fixed for your employment. Here again, it is important to note that the statutory minimum wage does not include the employer's share of statutory contributions to any fund like the ESI and EPF.
From India, Salem
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6185When you say that your gross and basic are one and the same, it implies that your salary is only a consolidated salary and not a structured one comprising different components. Kindly check, please.
If, on the other hand, you are working in any branch of any Foreign Company in India, then also it cannot be an issue if your gross salary is at par or more than the statutory minimum wages, if any, fixed for your employment. Here again, it is important to note that the statutory minimum wage does not include the employer's share of statutory contributions to any fund like the ESI and EPF.
From India, Salem
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CTC Calculator.xls