What is CTC and in hand salary?
While CTC is the total salary package of an employee, the in-hand salary is what’s left after all kinds of deductions. Thus, CTC reflects the total expenditure that an employer spends on an employee during a financial year.
What is CTC job?
Cost to company (CTC) is a term for the total salary package of an employee, used in countries such as India and South Africa. It indicates the total amount of expenses a company (organisation) spends on an employee during one year.
What is CTC salary example?
It is calculated by adding salary to the cost of all additional benefits an employee receives during the service period. If an employee’s salary is ₹500,000 and the company pays an additional ₹50,000 for their health insurance, the CTC is ₹550,000.
What is the CTC for 12000 salary?
How to calculate CTC from basic salary
| Component of Salary (Per Annum) | Amount |
|---|---|
| Conveyance Allowance | 12,000 |
| Entertainment Allowance | 12,000 |
| Overtime Allowance | 12,000 |
| Medical Reimbursements | 15,000 |
What is monthly CTC?
CTC. CTC or Cost to Company is the total amount that a company spends (directly or indirectly) on an employee. It refers to the total salary package of the employee. CTC is inclusive of monthly components such as basic pay, various allowances, reimbursements, etc.
What is CTC example?
CTC in colloquial terms is the cost an employer bears to hire and sustain its employees. Formula: CTC = Gross Salary + Benefits. If an employee’s salary is ₹40,000 and the company pays an additional ₹5,000 for their health insurance, the CTC is ₹45,000. Employees may not directly receive the CTC amount as cash.
What is CTC in salary slip?
“text”: “The acronym CTC stands for Cost to Company. Cost to Company (CTC) refers to the total salary package of the employee. It is inclusive of all monthly components such as basic pay, reimbursements, various allowances, etc.