hi friends
can anyone please clarify following terms to me with example??? m bit confused with these terms :confused:
ctc
gross salary
consolidated
net salary
salary breakup
components of salary??
pls someone guide me :?:
thanks :)
tweeps
From India, Mumbai
can anyone please clarify following terms to me with example??? m bit confused with these terms :confused:
ctc
gross salary
consolidated
net salary
salary breakup
components of salary??
pls someone guide me :?:
thanks :)
tweeps
From India, Mumbai
ctc:Cost to company-Total cost incurred for an employee including cash and perks per annum.
gross salary:Monthly toal salary before deductions.
consolidated:Paid to trainees /temporary employees with out any salary break up components like Basic,DA,HRA,Conveyance etc.,
net salary:Monthly take home salary after deductions.
salary breakup:Showing various components separately like Basic,DA,HRA,Conveyance etc., and arrive at Gross Salary.
components of salary??:Various components like Basic,DA,HRA etc.,
From India, Madras
gross salary:Monthly toal salary before deductions.
consolidated:Paid to trainees /temporary employees with out any salary break up components like Basic,DA,HRA,Conveyance etc.,
net salary:Monthly take home salary after deductions.
salary breakup:Showing various components separately like Basic,DA,HRA,Conveyance etc., and arrive at Gross Salary.
components of salary??:Various components like Basic,DA,HRA etc.,
From India, Madras
Thanks for the information but can u pls explain it to me with help of an example:icon1:
does ctc include employee's as well as employer's share of pf and esi??:!:
can some1 pls explain with example ctc with salary breakup???:)
From India, Mumbai
does ctc include employee's as well as employer's share of pf and esi??:!:
can some1 pls explain with example ctc with salary breakup???:)
From India, Mumbai
Hi, u may find the following useful...
Basic-------------------------------------4000.00
DA-----------------------------------------2500.00
HRA---------------------------------------2000.00
CCA---------------------------------------1500.00
Gross Salary (A=sum of above)---10000.00
Add,Employer's Contribution+Reim.(B)
PF @13.61% on Basic------------------------545.00
Bonus @ 8.33% on Basic--------------------334.00
Other Reimbursements (if any)-----------------0.00
CTC (A+B)-------------------------------------10879.00
Net Salary/Take Home
Gross Salary-------------------------------------------------------10000.00
Less, Employee's Contribution to PF @12% on Basic----480.00
Professional Tax (statewise)-------------------------------------------0.00
NET SALARY--------------------------------------------------------9520.00
(ESI will be applicable if the Gross is less than Rs.10000)
Kindly let me know if u require some more details..
Thanks & Regards,
Sudip Das
Basic-------------------------------------4000.00
DA-----------------------------------------2500.00
HRA---------------------------------------2000.00
CCA---------------------------------------1500.00
Gross Salary (A=sum of above)---10000.00
Add,Employer's Contribution+Reim.(B)
PF @13.61% on Basic------------------------545.00
Bonus @ 8.33% on Basic--------------------334.00
Other Reimbursements (if any)-----------------0.00
CTC (A+B)-------------------------------------10879.00
Net Salary/Take Home
Gross Salary-------------------------------------------------------10000.00
Less, Employee's Contribution to PF @12% on Basic----480.00
Professional Tax (statewise)-------------------------------------------0.00
NET SALARY--------------------------------------------------------9520.00
(ESI will be applicable if the Gross is less than Rs.10000)
Kindly let me know if u require some more details..
Thanks & Regards,
Sudip Das
13.61% =12%+1.61% is (administrative charges 1.1%+ELDI 0.5%+administrative charges 0.01%=1.61%)will be the contribution by employer .However 13.61% on Basic 545.00 cannot be calculated / deducted from employee.
From India, Madras
13From India, Madras
Hi friends, Please herewith find the attached file of CTC Calculation.I think it will clear all your doubts. Warmest Regards, Mohan.M.S "willingness to walk the extra mile to achieve excellence"
From India, Madras
From India, Madras
Pf employer contribution charges are 13.61% and u explained 1.61% in detail as (EDLI+Admin.charges+Adminchrges) its good why agin u add Admin charges second time ?can i know that please explain me why we are adding two times admincharges
i think one for govt and one for employer contribution is it right?
Please reply me!!!
From India, Hyderabad
i think one for govt and one for employer contribution is it right?
Please reply me!!!
From India, Hyderabad
Dear Sudip
thank you for your valuable contribution, I would just like to have a bit more clear idea about it. Suppose the person`s basic is Rs 12000 and we are giving him the PF which as per calculation results to Rs 1440 and now while including this in CTC when iit comes to the employers ,should the employers deduct on 13.61% i.e Rs 1633 or simply Rs 780/-. Plz help me out.
From India, Calcutta
thank you for your valuable contribution, I would just like to have a bit more clear idea about it. Suppose the person`s basic is Rs 12000 and we are giving him the PF which as per calculation results to Rs 1440 and now while including this in CTC when iit comes to the employers ,should the employers deduct on 13.61% i.e Rs 1633 or simply Rs 780/-. Plz help me out.
From India, Calcutta
Dear Naurin,
Daily activities of an HR Executive's job include interviewing candidates, once he is selected send him the offer letter after negotiating the salary with the candidate.Once he joins, introduce him to the entire staff, provide him the training required by preparing a training calender (do that by sitting with the HR manager and HOD for the dept he is selected).
Along with that comes the confirmation of the employees, employee engagement activities etc.
Hope that has answered your question.
Ruchi
From India, Mumbai
Daily activities of an HR Executive's job include interviewing candidates, once he is selected send him the offer letter after negotiating the salary with the candidate.Once he joins, introduce him to the entire staff, provide him the training required by preparing a training calender (do that by sitting with the HR manager and HOD for the dept he is selected).
Along with that comes the confirmation of the employees, employee engagement activities etc.
Hope that has answered your question.
Ruchi
From India, Mumbai
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Enforcement of negative covenants in employment terms.pdf
CTC Calculator.xls