Dear Vijeta,
CTC as the name indicates is the total cost to the company. This includes
Basic Pay Fixed
HRA Generally it is 40% of Basic pay but may vary as per company policies Dear Vijeta,
Conveyance Allowance This may be fixed amount or milege allowance for actual movement done.
Education allowance This may be a fixed amount.
Special Allowance etc
All the reimbursements such as medical/traveling/entertainment/food subsidy
Bonus- This is minimum 8.33% of Basic Pay. If basic pay is more than Rs 3000/- pm then basic for calculation of Bonus is taken as Rs 3000/-
Gratuity - This is calculated as 50% of monthly pay for no of years of service put in by the employee subject to a continous service for a min period of five years.
Employer share of ESI - This is 4.75% of basic pay
Employer share of PF - This is 13.61% of basic pay (12% for PFcum Pension Fund and 1.61% as admin charges)
Any other expenditure on the employee ie. free lunch/tea /insurance etc.
2.Gross Salary : It includes all of the above less perks in kind (-) Employee share of PF 12% of Basic (-) Employee share of ESI i.e. 1.75 % of Basic (-) any other deduction by the employer
Thanx
Securityexpert
From India, New Delhi
4CTC as the name indicates is the total cost to the company. This includes
Basic Pay Fixed
HRA Generally it is 40% of Basic pay but may vary as per company policies Dear Vijeta,
Conveyance Allowance This may be fixed amount or milege allowance for actual movement done.
Education allowance This may be a fixed amount.
Special Allowance etc
All the reimbursements such as medical/traveling/entertainment/food subsidy
Bonus- This is minimum 8.33% of Basic Pay. If basic pay is more than Rs 3000/- pm then basic for calculation of Bonus is taken as Rs 3000/-
Gratuity - This is calculated as 50% of monthly pay for no of years of service put in by the employee subject to a continous service for a min period of five years.
Employer share of ESI - This is 4.75% of basic pay
Employer share of PF - This is 13.61% of basic pay (12% for PFcum Pension Fund and 1.61% as admin charges)
Any other expenditure on the employee ie. free lunch/tea /insurance etc.
2.Gross Salary : It includes all of the above less perks in kind (-) Employee share of PF 12% of Basic (-) Employee share of ESI i.e. 1.75 % of Basic (-) any other deduction by the employer
Thanx
Securityexpert
From India, New Delhi
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Gross Salary(1).xls