Sir/Mam What’s the correct format of designing CTC...... can u please give me 1 sample of that. Thanks Purvi Badjatya
From India, Indore
From India, Indore
Hi Purvi,
The contents of the salary break up may be as below, you can prepare it at the suitability of your own. HRA would be 40 to 60% of basic.
Basic
HRA
TA
Other Allowance
Mobile Reimbursement / Month
Gross Per Month = Sum of all the above.
Gross Per Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximum ceiling for ESI is 10000/Month.
Getting more than this will be covered under Mediclaim or it depends on company policy
EX-Gratia/Bonus = A fixed amount as Bonus
Annual Fixed Gross Cost= Gross/Annum+ Ex-gratia
Annual Total Cost = AFGC + PF+ESIC
Annual total cost is also called as CTC.
Hope it would help you to prepare the same at your end..
Regards,
Amit Seth.
From India, Ahmadabad
494The contents of the salary break up may be as below, you can prepare it at the suitability of your own. HRA would be 40 to 60% of basic.
Basic
HRA
TA
Other Allowance
Mobile Reimbursement / Month
Gross Per Month = Sum of all the above.
Gross Per Annum= 12*Gross/Month
PF Contribution= 12% of Basic/Annum
ESI Contribution = 4.75% of Gross/Annum
Medical = The mediclaim facility provided to an employee who are not covered under ESI as the maximum ceiling for ESI is 10000/Month.
Getting more than this will be covered under Mediclaim or it depends on company policy
EX-Gratia/Bonus = A fixed amount as Bonus
Annual Fixed Gross Cost= Gross/Annum+ Ex-gratia
Annual Total Cost = AFGC + PF+ESIC
Annual total cost is also called as CTC.
Hope it would help you to prepare the same at your end..
Regards,
Amit Seth.
From India, Ahmadabad
dear,
First of all you should know the minimum wages prevailing in your state for preparing the ctc.
The Basic salary as per your company policy depending upon the different grades such as executives,assistants,managers .
CTC can be calculated as: monthly or annually
Basic=3500 (monthly) or 3500*12(Months)
HRA 40%to 50% of Basic
Conyevanace allowance=15or20% of Basic or transport allowance =can be a fixed amount.
Special Allowance or childrens educational allowance=any amount so that after deductions net salary comes or 5% to 15% of conyevance allowance
Total of all These =Gross Salary
Basic*13.61%=PF employers contribution
If gross salary is Less than or equal to Rs.10,000=Gross salary*4.75% ESI employers contribution
LTA OR Medical Reimbursement =Basic*15% or 20% payable annually
Bonus depends upon your company policy =It can be basic*15%or 20% payable annually
Gratuity payable after five years continous service calculated yearly
Any reimbursements such as mobile,washing,mediclaim can be added.
Gross+employers contribution(PF or ESI)+LTA or Medical+Bonus+gratuity+any reimbursements=CTC
Thanks
Saurabh
First of all you should know the minimum wages prevailing in your state for preparing the ctc.
The Basic salary as per your company policy depending upon the different grades such as executives,assistants,managers .
CTC can be calculated as: monthly or annually
Basic=3500 (monthly) or 3500*12(Months)
HRA 40%to 50% of Basic
Conyevanace allowance=15or20% of Basic or transport allowance =can be a fixed amount.
Special Allowance or childrens educational allowance=any amount so that after deductions net salary comes or 5% to 15% of conyevance allowance
Total of all These =Gross Salary
Basic*13.61%=PF employers contribution
If gross salary is Less than or equal to Rs.10,000=Gross salary*4.75% ESI employers contribution
LTA OR Medical Reimbursement =Basic*15% or 20% payable annually
Bonus depends upon your company policy =It can be basic*15%or 20% payable annually
Gratuity payable after five years continous service calculated yearly
Any reimbursements such as mobile,washing,mediclaim can be added.
Gross+employers contribution(PF or ESI)+LTA or Medical+Bonus+gratuity+any reimbursements=CTC
Thanks
Saurabh
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