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
1From India, Delhi
Dear Peeru,
' CTC ' is an accounting tool used by an employer to arrive at the total expenditure to be incurred by him per employee per annum. 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
' CTC ' is an accounting tool used by an employer to arrive at the total expenditure to be incurred by him per employee per annum. 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
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