Hi, This is David Here, My company calculates CTC for hiring candidates and considers Bonus and Gratuity in employers list and then provide gross salary. which leads to heavy deduction for employees working under less pay scale. Can anyone suggest me on how to reduce deductions in ctc and provide me a break up.
From India, Hubli
From India, Hubli
At best gratuity deduction can be called as deduction if such employee quits before completing 5 years of service. Bonus is deducted per month is paid annually, so this arrangement is OK.
You may negotiate for refund of gratuity cost in case you don't complete 5 years of service. It is unlikely that employer may agree but this is the only way to protect deducted gratuity sum before joining. If employer agrees, get the same in writing somewhere.
From India, Mumbai
264You may negotiate for refund of gratuity cost in case you don't complete 5 years of service. It is unlikely that employer may agree but this is the only way to protect deducted gratuity sum before joining. If employer agrees, get the same in writing somewhere.
From India, Mumbai
1. CTC is cost to the Company, this is done by all the Companies as they need to calculate the cost of each employee.
2. Every candidate hired is shown the complete details, the candidate while accepting the offer, check every detail of the offer.
3. Bonus is paid annually by the employer and it is a cost to the Company, this does not form part of the gross salary similarly Gratuity is a terminal benefit and the employee gets it as & when eligible. The companies need to make provisions for funds under all these heads.
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4. In every offer there is always a head for monthly gross salary which is to be seen by the employee and this is relevant for calculation of monthly take home salary minus statutory deductions these details are also provided in the offer letter normally. Some employers attach complete details with offer letter. People have to understand it and if there are doubts, one must clear before joining.
From India, Thane
2. Every candidate hired is shown the complete details, the candidate while accepting the offer, check every detail of the offer.
3. Bonus is paid annually by the employer and it is a cost to the Company, this does not form part of the gross salary similarly Gratuity is a terminal benefit and the employee gets it as & when eligible. The companies need to make provisions for funds under all these heads.
.
4. In every offer there is always a head for monthly gross salary which is to be seen by the employee and this is relevant for calculation of monthly take home salary minus statutory deductions these details are also provided in the offer letter normally. Some employers attach complete details with offer letter. People have to understand it and if there are doubts, one must clear before joining.
From India, Thane
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