Dear Seniors,
I am Nadeem Ahmad, working as an HR Executive. The problem in our company lies in the salary calculation system, as it is based on gross salary rather than CTC. For example, if a worker's salary structure in the company is Basic Rs. 8200/-, HRA Rs. 2300/-, and Conv. Rs. 2000/-, with a Gross Total of Rs. 12500/- and ESI & PF deductions of 219 + 780, resulting in a net pay of Rs. 11501/-, could you please advise on the actual CTC for this case?
Regards,
Nadeem
From India, New Delhi
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20I am Nadeem Ahmad, working as an HR Executive. The problem in our company lies in the salary calculation system, as it is based on gross salary rather than CTC. For example, if a worker's salary structure in the company is Basic Rs. 8200/-, HRA Rs. 2300/-, and Conv. Rs. 2000/-, with a Gross Total of Rs. 12500/- and ESI & PF deductions of 219 + 780, resulting in a net pay of Rs. 11501/-, could you please advise on the actual CTC for this case?
Regards,
Nadeem
From India, New Delhi
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Hi, You will get the CTC by adding the employer’s contributions towards EPF, ESI and other headings if any, along with the employee’s gross salary...
From India, Chennai
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From India, Chennai
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Dear Nadeem,
Cost to Company means:
Allowances (A)
Basic - Rs 8200
HRA - Rs 2300
Conveyance Allowance - Rs 2000
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Gross Salary - Rs 12500
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Provisions (B)
PF @ 12% - Rs 780
ESI @ 4.75% - Rs 594
Leave Pay - Rs Nil
Gratuity - Rs Nil
Bonus (8.33% or 20%) - Rs
------------------
Total - Rs 1374
------------------
Cost to Company (C) - Rs 13874
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Regards
From India, Rajamahendri
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Cost to Company means:
Allowances (A)
Basic - Rs 8200
HRA - Rs 2300
Conveyance Allowance - Rs 2000
------------------
Gross Salary - Rs 12500
------------------
Provisions (B)
PF @ 12% - Rs 780
ESI @ 4.75% - Rs 594
Leave Pay - Rs Nil
Gratuity - Rs Nil
Bonus (8.33% or 20%) - Rs
------------------
Total - Rs 1374
------------------
Cost to Company (C) - Rs 13874
------------------
Regards
From India, Rajamahendri
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EMPLOYEE SALARY INCOME TAX CALCULATION.xls x