Question: What Is The CTC Salary?

What is difference between CTC and salary?

Cost To Company (CTC): The Cost to Company or CTC is the amount that an employer expends in hiring the service of an employee.

Gross Salary: Subtract gratuity and the employee provident fund (EPF) from Cost to Company (CTC), the amount that you get is your Gross Salary..

Is 50k a good salary in India?

For most people in India, 50,000 still remains an unbelievably large amount. India is a poor country with very low per capita income. So in general, it is a very good salary. However, that is not to say it is sufficient for the life you want to lead, that will depend on your personal desires and needs.

Which is better CTC or gross salary?

Gross salary is the amount after the EPF and gratuity are subtracted from the CTC. Basically, the remuneration paid before deducting the income tax, professional tax, and other deductions. It is inclusive of bonuses, overtime pay, paid holiday amount, and other differentials.

What is annual income?

Annual income is the amount of income you earn in one fiscal year. Your annual income includes everything from your yearly salary to bonuses, commissions, overtime, and tips earned. … Gross annual income is your earnings before tax, while net annual income is the amount you’re left with after deductions.

What does CTC mean in texting?

text message shorthandCare To Chat -or- Contact -or- Choking The Chicken CTC is online jargon, also known as text message shorthand, used primarily in texting, online chat, instant messaging, email, blogs, and newsgroup postings, these types of abbreviations are also referred to as chat acronyms.

Is PF mandatory?

According to the EPF scheme rules, it is mandatory for an employee to join the EPF scheme if his pay is less than or equal to Rs 15,000 a month.

What is current CTC?

cost to companyWhat should I provide as my Current CTC (cost to company) to a Company where I am going to work? … In my current company I am getting a salary of sum of Basic & Variable pay, where variable pay depends on how many hours I effectively worked for the company.

What is CTC example?

It refers to the total salary package of the employee. CTC is inclusive of monthly components such as basic pay, various allowances, reimbursements, etc. and annual components such as gratuity, annual variable pay, annual bonus, etc. CTC is never equal to the amount of take-home salary of the employee.

Is bonus a part of CTC?

The CTC typically includes fixed heads such as basic pay (which ranges around 40-50% of the CTC), home rent allowance (which ranges around 40-50% of the basic salary), employees’ provident fund (EPF), gratuity, other reimbursements such as car fuel and mobile bills etc., and variable components such as annual bonus and …

What is CTC stand for?

Cost to companyCost 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 an employer (organisation) spends on an employee during one year.

How do I know my CTC?

CTC = Earnings + Deductions Here, Earnings = Basic Salary + Dearness Allowance + House Rent Allowance + Conveyance Allowance + Medical Allowance + Special Allowance. Given below is a simple example of a salary slip showing all the basic breakups under two heads, earnings and deductions.

How do you reply to expected CTC?

Try to understand the job role first. “Before answering this question, I would like to understand this job position and the expected responsibilities better. I would also like to know what is expected from me while I work here.

What is CTC and NP?

NP. Notice Period. This is period of the advance notice that the employer required the employee to give if he or she wishes to leave the company. CTC. Cost to Company.

How is CTC calculated in salary?

What is CTC in Salary and How is Basic Calculated?CTC means Cost To Company. … CTC = Direct Benefits + Indirect Benefits + Savings Contributions.Basic Salary – It is the amount paid to an employee before any extras are added or taken off, such as reductions because of salary sacrifice schemes or an increase due to overtime or a bonus.More items…•

What is CV CTC?

Hi, what is CTC? Someone asked me, so it’s Cost to Company which means your current package in the organization you are currently employed and ECTC an Expected Cost to Company for your future firm. … Hence, one should not write expected CTC in the resume.