Hi Smita,
Welcome back..
Am surprised to note that PF is not applicable..have you got exemption from PF Authorities?..if yes then no problem..in the above working skip PF deductions..it's better to cross check..lest your organization faces problems in future..
Cheers,
Rajat
From India, Pune
101Welcome back..
Am surprised to note that PF is not applicable..have you got exemption from PF Authorities?..if yes then no problem..in the above working skip PF deductions..it's better to cross check..lest your organization faces problems in future..
Cheers,
Rajat
From India, Pune
Hi Anudeep, Please explain your logic..for including the same in CTC N what do you do if an employee quits say in three years..how would you justify the same to employee... Cheers, Rajat
From India, Pune
From India, Pune
HI, ALL,
WHILE GOING THROUGH THE ANSWERS POSTED BY THE CITE HR MEMBERS, NOW YOU ARE AWARE OF THE COMPONENTS CONSIDERED IN CTC.
FURTHER, YOUR CONCERN FOR GRATUITY, GRATUITY IS CONSIDERED AS AS PART OF CTC., SUBJECT TO GRATUITY ACT, BECAUSE IF AN EMPLOYEES COMPLETES MINIMUM FIVE YEARS THAN HE IS ENTITLE TO GET THE GRATUITY.
HOPE THIS WOULD SUFFICE YOUR QUERY.
REGARDS,
NELLY_BAVA
From United States, Lynchburg
WHILE GOING THROUGH THE ANSWERS POSTED BY THE CITE HR MEMBERS, NOW YOU ARE AWARE OF THE COMPONENTS CONSIDERED IN CTC.
FURTHER, YOUR CONCERN FOR GRATUITY, GRATUITY IS CONSIDERED AS AS PART OF CTC., SUBJECT TO GRATUITY ACT, BECAUSE IF AN EMPLOYEES COMPLETES MINIMUM FIVE YEARS THAN HE IS ENTITLE TO GET THE GRATUITY.
HOPE THIS WOULD SUFFICE YOUR QUERY.
REGARDS,
NELLY_BAVA
From United States, Lynchburg
Hi Friends, Kindly let me know the difference between the three CTC/ Payroll salary / in hand / Take home.
From India, New Delhi
From India, New Delhi
HI, EMMY,
THERE IS NOT SO MUCH DIFFERENCE BETWEEN CTC / CASH ON HAND / TAKE HOME SALARY
1. CTC - TOTAL COST TO THE COMPANY IT INCLUDES ALL MONTHLY SALARY COMPONENTS & YOUR YEARLY COMPONENTS LIKE SUPER ANNUATION, PF, PERQUISITES ETC., AND YOUR REIMBURSEMENTS LIKE MEDICAL, LTA, PROFESSIONAL PURSUITS, FURNISHING ALLOWANCE ETC.,
2. CASH ON HAND / TAKE HOME SALARY : IN THIS YOUR MONTHLY SALARY COMPONENTS [MINUS] YOUR STANDARD DEDUCTIONS LIKE PF, ESI, PROFESSIONAL TAX, CREDIT SOCIETY, LOAN ETC.,
HOPE THIS WILL CLARIFY YOUR DOUBT.
REGARDS,
NELLY_BAVA
From United States, Lynchburg
THERE IS NOT SO MUCH DIFFERENCE BETWEEN CTC / CASH ON HAND / TAKE HOME SALARY
1. CTC - TOTAL COST TO THE COMPANY IT INCLUDES ALL MONTHLY SALARY COMPONENTS & YOUR YEARLY COMPONENTS LIKE SUPER ANNUATION, PF, PERQUISITES ETC., AND YOUR REIMBURSEMENTS LIKE MEDICAL, LTA, PROFESSIONAL PURSUITS, FURNISHING ALLOWANCE ETC.,
2. CASH ON HAND / TAKE HOME SALARY : IN THIS YOUR MONTHLY SALARY COMPONENTS [MINUS] YOUR STANDARD DEDUCTIONS LIKE PF, ESI, PROFESSIONAL TAX, CREDIT SOCIETY, LOAN ETC.,
HOPE THIS WILL CLARIFY YOUR DOUBT.
REGARDS,
NELLY_BAVA
From United States, Lynchburg
Dear Sir, I think that you are right in this view of Gratuity as not every company include this too. Nishant Ranjan
Hi Everyone!!
Thanks for the response. Still it seems even after the whole discussion we are still at the same point.
Considering other benefits an enployee is entitled to like PF, whenever one leaves the job one gets that. Gratuity payment comes with the condition of completing 5 years.
Should it be considered part of employees who have completed 5 yrs or even for new joinees who are lets say in job for last 1-2 yrs. If they leave they wnt b paid. In that case how is gratuity justified as part of CTC??
Keep exploring!
Surmeet
From India, New Delhi
Thanks for the response. Still it seems even after the whole discussion we are still at the same point.
Considering other benefits an enployee is entitled to like PF, whenever one leaves the job one gets that. Gratuity payment comes with the condition of completing 5 years.
Should it be considered part of employees who have completed 5 yrs or even for new joinees who are lets say in job for last 1-2 yrs. If they leave they wnt b paid. In that case how is gratuity justified as part of CTC??
Keep exploring!
Surmeet
From India, New Delhi
Hi,
It should be taken as part of CTC, as a company which is hiring, takes it as a long term associattion, and it is basically a incentive for satying long with the company, if an employee is staying with the comapny, he gets the benefit and ofcourse it is cost to the company.
Best Regards'
Anudeep
From India, Hyderabad
It should be taken as part of CTC, as a company which is hiring, takes it as a long term associattion, and it is basically a incentive for satying long with the company, if an employee is staying with the comapny, he gets the benefit and ofcourse it is cost to the company.
Best Regards'
Anudeep
From India, Hyderabad
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