Dear all, What is the CTC structure according to labour laws? Please clear confusion in Basic, HRA, other allowance, bonus, gratuity, incentive?
From India, Delhi
Acknowledge(0)
Amend(0)
1From India, Delhi
Acknowledge(0)Amend(0)
Understanding CTC in Employment
'CTC' is an accounting tool used by an employer to determine the total expenditure incurred per employee annually. It has no relevance or recognition in labor laws.
If you want your doubts about the various components of wages/salary cleared with reference to the direct and indirect financial implications on employment, it is better for you to go through Sec. 2(y) of the Code on Wages, 2019, wherein the term has been defined.
From India, Salem
Acknowledge(0)Amend(0)
'CTC' is an accounting tool used by an employer to determine the total expenditure incurred per employee annually. It has no relevance or recognition in labor laws.
If you want your doubts about the various components of wages/salary cleared with reference to the direct and indirect financial implications on employment, it is better for you to go through Sec. 2(y) of the Code on Wages, 2019, wherein the term has been defined.
From India, Salem
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Compensation Structure.ppt
MODEL STRUCTURE OF COMPENSATION.do c