there is no definition of CTC, employer can add any component in CTC.
Employer PF & ESIC contribution can be the part of CTC ,but it should not be shown in wage register & salary slip. becasue as per both Act Employer Contribution can not be deducted from the wages of employee. it's amount to a penal offence.
Regards
87Employer PF & ESIC contribution can be the part of CTC ,but it should not be shown in wage register & salary slip. becasue as per both Act Employer Contribution can not be deducted from the wages of employee. it's amount to a penal offence.
Regards
see ctc is cost to company n in short it means that cost employer incurs to employ a employee.. so obviously he will add it to ctc, thats y all the perks ,reimbursements are added to get the total figure of CTC.
Hope that helps.
From India, Chandigarh
Hope that helps.
From India, Chandigarh
Hi,
There are three terms used in salary-
1) CTC ( Cost to company, includes all the additional benefits an employer offers to a employee)
2) Gross salary ( Basic+ HRA+ other allowances)
3) In hand salary( After all deductions )
So it clear that total cost to employer, including PF contribution, ESIC contribution, medical contribution & any other contribution paid by employer for employee makes his CTC.
Regards
Roopa Mehra
From India, Gurgaon
There are three terms used in salary-
1) CTC ( Cost to company, includes all the additional benefits an employer offers to a employee)
2) Gross salary ( Basic+ HRA+ other allowances)
3) In hand salary( After all deductions )
So it clear that total cost to employer, including PF contribution, ESIC contribution, medical contribution & any other contribution paid by employer for employee makes his CTC.
Regards
Roopa Mehra
From India, Gurgaon
Hi All,
I want to tell you that any cost which incurred due to an employee, in this situation employer can count it into CTC which means total cost of an employee, whether it will be ESIC contribution, PF contribution or any other expense or reimbursement also.
Thanks & Regards
Sunil Sharma
V3S Group
From India, New Delhi
I want to tell you that any cost which incurred due to an employee, in this situation employer can count it into CTC which means total cost of an employee, whether it will be ESIC contribution, PF contribution or any other expense or reimbursement also.
Thanks & Regards
Sunil Sharma
V3S Group
From India, New Delhi
Every employer used to keep account of expenses on employees direct in salary or indirect like canteen, uniform, shoes etc.
so answer to your question is PF contribution of employer is also direct cost to company like gratuity, ESIC or any mediclaim policy.
so answer to your question is PF contribution of employer is also direct cost to company like gratuity, ESIC or any mediclaim policy.
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Employer-PF-res trict to wages of Rs 6500.pdf