Hello Sir/Mam,
There is some confusion in CTC structure. As per my knowledge employer contribution in EPF is 13.61%(12%+1.61%). and i also using the same for CTC Computation.
But some where i have seen employer contribution is 12% only in CTC Structure.
Kindly suggest which one is correct.
Regards'
HR
From India, Delhi
4There is some confusion in CTC structure. As per my knowledge employer contribution in EPF is 13.61%(12%+1.61%). and i also using the same for CTC Computation.
But some where i have seen employer contribution is 12% only in CTC Structure.
Kindly suggest which one is correct.
Regards'
HR
From India, Delhi
Hi
PF is 12% from Employee & 12+1.36% from ER. So its 13.36%. They are showing as 12% as its contributed to their account & 1.36% is contributed against the admin charges so they may exclude
13.61% is worng
From India, Bangalore
PF is 12% from Employee & 12+1.36% from ER. So its 13.36%. They are showing as 12% as its contributed to their account & 1.36% is contributed against the admin charges so they may exclude
13.61% is worng
From India, Bangalore
Hi Hrmenka,
CTC , Cost to company (Total cost incurred on employee with wage/salary and legal contribution by employer) is vary organization to organization . Some organization CTC component include employer PF contribution,Employer ESI contribution, Bonus, Gratuity as well leave encasement , ESOP. Its all depends on company policy or at time of salary negotiation and consent of employment. In your case you add 12% employer contribution and other is 13.61% now it is 13.36% as CTC both are correct, Just kept care Basic+DA not less than minimum wage or minimum PF contributing wage.
Thanks
Manish
From India, Bangalore
CTC , Cost to company (Total cost incurred on employee with wage/salary and legal contribution by employer) is vary organization to organization . Some organization CTC component include employer PF contribution,Employer ESI contribution, Bonus, Gratuity as well leave encasement , ESOP. Its all depends on company policy or at time of salary negotiation and consent of employment. In your case you add 12% employer contribution and other is 13.61% now it is 13.36% as CTC both are correct, Just kept care Basic+DA not less than minimum wage or minimum PF contributing wage.
Thanks
Manish
From India, Bangalore
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CTC Structure-1.pdf
CTC Structure.xls