Hi!!! What exactly is the difference between CTC & Gross salary, if any? Could u tell me the exact components under each...in the Indian context..? Thanks... Cheers... Sonalika :)
From India, Bangalore
From India, Bangalore
HII,
CTC refers to cost to the company. This is the cost that the organisation incurs by giving a person employement. This includes the persons fixed salary, his satutory obligations that the employer takes care, training and development expenses etc.
Whereas gross means the salary fixed for a person, includes all the statutory deductions and all the allowances.
Hope the clarification is of use to you.
Vani
From India, Madras
1CTC refers to cost to the company. This is the cost that the organisation incurs by giving a person employement. This includes the persons fixed salary, his satutory obligations that the employer takes care, training and development expenses etc.
Whereas gross means the salary fixed for a person, includes all the statutory deductions and all the allowances.
Hope the clarification is of use to you.
Vani
From India, Madras
Hi,
Vani is right ! For example, following is a salary break up of an employee;
Basic: 5000
HRA: 2000
Conveyance: 800
Special allowance: 2500
GROSS SALARY: 10300
On the other hand, CTC is generally calculated on yearly basis. If we take the above example, CTC would be following:
Yearly Gross Salary : 123600
Medical Reimbursement: 5000
LTA: 5000
Membership of Associations: 1000
Credit Card Fee Reimbursement: 1000
Company PF Contribution:7200
CTC: 142800
Hence, CTC means the total cost incurred by company on employing someone.
Cheers :D
Sandeep
From India, Hyderabad
Vani is right ! For example, following is a salary break up of an employee;
Basic: 5000
HRA: 2000
Conveyance: 800
Special allowance: 2500
GROSS SALARY: 10300
On the other hand, CTC is generally calculated on yearly basis. If we take the above example, CTC would be following:
Yearly Gross Salary : 123600
Medical Reimbursement: 5000
LTA: 5000
Membership of Associations: 1000
Credit Card Fee Reimbursement: 1000
Company PF Contribution:7200
CTC: 142800
Hence, CTC means the total cost incurred by company on employing someone.
Cheers :D
Sandeep
From India, Hyderabad
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GROSS SALARY&CTC FOR 15500.xls