Dear All, I want to know that employers contribution to ESIC could be part of CTC to company or not.
From India, Agra
From India, Agra
Whatever money company spends for a employee, it would come under the CTC. Even some of the companies are calculating employer contribution on food/ Lunch in to CTC. Regards, Satya
From India, Mumbai
From India, Mumbai
Generally as far as the employee concerned, it should not be a part of CTC. Many Companies do follow the same. However from the employer's point of view it is also an expense towards an engaging employee. Some Companies consider ESI also part of the CTC. My opinion is it should not be!! Because it is a mandatory payment by the employer towards compliance under social security scheme. In reality, only around 20-30% of Insured Person (IP) (employees contributing ESI) availing such benefits from ESI . The reasons are poor human and medical treatment to employees (Insured Person) in many dispensaries, corruption, bureaucracy attitude of ESI staff member/Doctors!! It is my 20 years experience!! Mr.Gandhi's statement to "Treat customers are VVIP" are only in hanging posters!!!
From India, Madras
From India, Madras
The ESIC contribution of the employee definitely forms the part of CTC of an employee who is under the purview of the ESI wage limit as it is the cost accrued by the Company to the employee irrespective of the fact whether the employee avails the ESI facility or not.
From India, Hyderabad
2From India, Hyderabad
Dear All,
Should or should not be is a different thing, but reality is that CTC includes all salary heads including PF, ESI (both employee and employer contribution) bonus, LTA, Medical and other benefits.
CTC in itself determines every single penny expense of organization on a employees.
This holds true with the organization where i m employed.
Thanks
Vivek Mishra
From India, Karnal
Should or should not be is a different thing, but reality is that CTC includes all salary heads including PF, ESI (both employee and employer contribution) bonus, LTA, Medical and other benefits.
CTC in itself determines every single penny expense of organization on a employees.
This holds true with the organization where i m employed.
Thanks
Vivek Mishra
From India, Karnal
Dear All,
CTC includes the following components :
basic salary , Hra , conveyance, LTC, PF & ESI contribution, Gratuity , Bonus and value of perquisties like Mediclaim policy , GPA Insurance policy premium .Because employer is incurring expenses towards the concerned employees .
Thanks,
AK Sharma
From India, Pune
CTC includes the following components :
basic salary , Hra , conveyance, LTC, PF & ESI contribution, Gratuity , Bonus and value of perquisties like Mediclaim policy , GPA Insurance policy premium .Because employer is incurring expenses towards the concerned employees .
Thanks,
AK Sharma
From India, Pune
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CTC CALCULATION SHEET.xls