WebCTC stands for “Cost-to-Company”, it is the cost a company spends on hiring an employee. It includes the salary and a few other intangible expenses. While Gross Salary is the amount that is payable to the employee before deductions of taxes and after deducting EPF and gratuity from the CTC. 2. WebTo calculate the take-home salary, you must enter the Cost To Company (CTC) and the bonus, if any, as a fixed amount or a percentage of the CTC. For example, your Cost To Company (CTC) is Rs 8 lakh. The employer gives you a bonus of Rs 50,000 for the financial year. Then your total gross salary is Rs 8,00,000 – Rs 50,000 = Rs 7,50,000 (the ...
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WebJun 28, 2024 · Step 4- Calculating take-home salary. Your take-home salary will be-Take Home Salary = Basic Salary + Actual HRA + Special Allowance – Income Tax – Employer’s PF Contribution(EPF) Let’s understand this with the help of an example: For example, your CTC is Rs. 8 lakh.The employer gives you a bonus of Rs. 50,000 for the financial year. . … WebCTC 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 … top tambourine brands
What is Cost to Company (CTC)? Meani…
WebJun 1, 2024 · CTC meaning. The Cost to Company (CTC) of an employee is the annual cost that a business pays to that person. The CTC is computed by combining the employee’s income and extra benefits, such as EPF, gratuity, home allowance, food coupons, medical insurance, travel expenses, etc. The CTC is never equal to the amount of money you get to … WebCTC (Cost To Company) CTC is the yearly expenditure that a company spends on an employee. Each employee’s CTC depends on their basic salary and variables. In colloquial terms, it is also termed as total salary package, i.e., the cost an employer bears to hire, train, and sustain its employees. WebJan 12, 2024 · CTC meaning. Cost to company (CTC) is the amount which a company will have to bear on an employee for a specific year. In other words, CTC indicates the cumulative amount a company spends on an employee in a year. Note that the company’s CTC will always be higher than your gross and take-home salaries as it has more … top tamil movie collection