Dear Sir/Madam, Could some one help me with a proper definition to define cost to company?
From United States
2From United States
Hi Keerti,
CTC is defined as total cost incurred by the company on an employee. Obvious expenses are Monthly Salary, Bonus, Employer's contribution towards his PF. Then you can add gratuity (Which company will be required to pay to an employee who has served for at least 5 yrs @ half month's salary for each completed year of service) To include this in the CTC, one may divide 2 and half times salary by 60 and add it to the monthly CTC. The management may also include expenses like transportation, telephone bill, subsidised food etc to this list of COST which company is incurring on the employee.
Hope that clarifies.
Regards,
Naresh Taneja
From India, Mumbai
CTC is defined as total cost incurred by the company on an employee. Obvious expenses are Monthly Salary, Bonus, Employer's contribution towards his PF. Then you can add gratuity (Which company will be required to pay to an employee who has served for at least 5 yrs @ half month's salary for each completed year of service) To include this in the CTC, one may divide 2 and half times salary by 60 and add it to the monthly CTC. The management may also include expenses like transportation, telephone bill, subsidised food etc to this list of COST which company is incurring on the employee.
Hope that clarifies.
Regards,
Naresh Taneja
From India, Mumbai
Hi Keerti,
Please find attached the excel file, it details the CTC-cost to company and also is a useful salary calculator.
As mentioned by naresh its just a term given to the package offered by the employer to the employee. It also helps the employer to keep track of actual amount being spent on a employee and hence budgeting becomes easier too. Also since nowadays there are many variable parameters being introduced to CTC it becomes a big package and hence the employer as well as the employee is proud to declare it.
Regards,
AJ
From India, Thana
Please find attached the excel file, it details the CTC-cost to company and also is a useful salary calculator.
As mentioned by naresh its just a term given to the package offered by the employer to the employee. It also helps the employer to keep track of actual amount being spent on a employee and hence budgeting becomes easier too. Also since nowadays there are many variable parameters being introduced to CTC it becomes a big package and hence the employer as well as the employee is proud to declare it.
Regards,
AJ
From India, Thana
Hii my salary is 18000rs CTC .
I want to make a salary slip so I want to split this CTC in a perfect salary break up and want to find a gud salary slip according to standard so pls help me and provide me a salary slip according to standard without pf
From India, Roorkee
I want to make a salary slip so I want to split this CTC in a perfect salary break up and want to find a gud salary slip according to standard so pls help me and provide me a salary slip according to standard without pf
From India, Roorkee
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CTC Calculator.xls