Hi all, I want to know that the employers part of PF is also included in CTC, then how to manage it in the salary slip, because we can’t show the employers pf in the salary slip?
From India, Delhi
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From India, Delhi
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There are several factors included in the CTC but are not part of the salary slip. For instance, subsidized food given in the canteen cannot be included in the salary slip, but the cash value of the benefit gets reckoned in CTC. It is not at all necessary to mention all CTC components in the salary slip.
There is a saying that CTC is like the tusks of an elephant and is not to be mistaken as the teeth. There is no legal requirement to show CTC in the salary slip. CTC is a feel-good factor and gives an exaggerated notion to the employees of how much the organization is spending on its personnel.
From India, Mumbai
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1593There is a saying that CTC is like the tusks of an elephant and is not to be mistaken as the teeth. There is no legal requirement to show CTC in the salary slip. CTC is a feel-good factor and gives an exaggerated notion to the employees of how much the organization is spending on its personnel.
From India, Mumbai
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Hi,
The CTC (Cost to Company) worksheet is prepared and shall become an attachment to the Offer of Appointment letter to a prospective candidate. In this, the Employer's share of PF, ESI, Gratuity, premium for Insurance (if applicable), and all components are included. The purpose of deriving the CTC worksheet is to enable management to know the total cost incurred/likely to be incurred if a particular employee is hired for employment.
However, in a payslip, the total CTC need not be shown. You have to show only the gross salary as per the following format:
Earnings | Total gross | Deductions | Net salary
Net salary is the salary received by the employee from the company and is also referred to as take-home salary.
From India, Aizawl
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The CTC (Cost to Company) worksheet is prepared and shall become an attachment to the Offer of Appointment letter to a prospective candidate. In this, the Employer's share of PF, ESI, Gratuity, premium for Insurance (if applicable), and all components are included. The purpose of deriving the CTC worksheet is to enable management to know the total cost incurred/likely to be incurred if a particular employee is hired for employment.
However, in a payslip, the total CTC need not be shown. You have to show only the gross salary as per the following format:
Earnings | Total gross | Deductions | Net salary
Net salary is the salary received by the employee from the company and is also referred to as take-home salary.
From India, Aizawl
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