If you work more than one job, youll have a gross salary amount for each one. Ctc is not the actual salary of an employee, it also includes all the facilities an. Need to see the excel file for calculating salary structurebreakup with just ctc in excel. As a broad thumb rule, when talking about ctc in india, your inhand salary is approx. Jan 28, 2020 a free inside look at central texas college salary trends based on 73 salaries wages for 56 jobs at central texas college. Lets say other deduction of esic, mediclaim is inr 800. The abbreviation ctc, which is often seen next to the stated salary package for the job offering, refers to the total amount that the employee will cost the company.
What is the difference between cost to company ctc and. It stands for costtocompany and simply means that this is the total amount that an employer is prepared to pay for the employee and includes all benefits. A free inside look at ctc salary trends based on 3 salaries wages for 3 jobs at ctc. Ctc faculty staff pay scales central texas college. Jul 24, 2008 travel expenditures, interviewing, spending time with potential customers can all be interpreted as ctc s. Understanding the difference between ctc and your take home. Ctc cost to company is a trick of a company and hr department, to show we are paying a big salary, but unfortunatly it is just bubble. Mar 09, 2007 ctc cost to company is a trick of a company and hr department, to show we are paying a big salary, but unfortunatly it is just bubble. Cost to company ctc meaning for net salary netcv south. We know 500 definitions for ctc abbreviation or acronym in 8 categories.
Your in hand salary is the amount after deduction all taxes, pf and other deductions from your ctc package or salary. Attached herewith ctc format that may help u to identify net take home salary, monthly ctc, yearly ctc in excel. What is current ctc and expected ctc for salary answers. Employers in india with an employee base of 20 or more employees are required to comply with the. Ctc full form in hindi, difference between ctc and net.
Ctc is the amount of total expenditure a company does to an employee. It basically encapsulates the salary package of an employee. Ctc full form what is cost to the company techgeekbuzz. Difference between ctc and gross salary difference between. It is calculated by adding salary to the cost of all additional benefits an employee receives during the. What you need to know about cost to company careers24. However, it is much more than the traditional salary. Ctc is not the actual salary of an employee, it also includes all the facilities an employee is getting during the service period. They overload total expences of human resorces on salary, and show that they are paying this much salary to the staff. It is the yearly package of the salary of any employee. Visit to know long meaning of ctc acronym and abbreviations. It indicates the total amount of expenses an employer organization spends on an employee during one year.
But gross is the total salary and benefits that you draw from a company. Ctc salaries are collected from government agencies and companies. In this, we are going to answer all of the above questions. May 17, 2015 ankit sharma, 22, an engineering graduate, was happy as he got placement through campus interview and was offered a salary package of rs 3.
It is one of the best place for finding expanded names. Possible ctc meaning as an acronym, abbreviation, shorthand or slang term vary from category to category. Ctc stands for cost to company, which implies the overall cost incurred by the company on a particular employee, for hiring and. It is the value that the company is spending on a particular employee in a year.
What is meant by ctc salary and how we can say current ctc in. Certified tile consultant ceramic tile institute of america ctc. Looking for online definition of ctc or what ctc stands for. It is calculated by adding salary to the cost of all additional benefits an employee receives during the service period. Difference between net salary, gross salary and ctc. Understanding ctc and your actual salary rediff getahead. It is the salary which is the gross pretax salary inclusive of all components monthly, annual, retiral and deferred payments. It indicates the total expenses that a companyorganization spends on an. Esic deposited with esic dept designation individual component ic prof tax paid to pt department department bonus lumpsum lta payable. Ctc or cost to company is the total amount that a company spends. For ctc we have found 500 definitions what does ctc mean. What is basic salary, gross salary, takehome salary and ctc.
Gross salary is the compensation receivedreceivable by an employee for his services provided. There are 3 terms that are generally used in indian salary structure 1. Compare employer provident fund epf vs ppf public provident fund vs vpf voluntary provident fund. Difference between gross salary and net salary pdf download. Most of the companies now follow this ctc format to give salary to their employees. Now, as 10k is his basic salary hence as per rules of govt. Ctc means the total amount spent by the company on the employee in a year. This can be corrected by an individual by simply matching the ctc to the actual amount they are receiving.
Find the ctc full form what is the full form of ctc. Oct 14, 2011 its important because a lot of components of your ctc in india may not translate into actual takehome cash every month. Those that are new to the job market can find this quite misleading. Each salary is associated with a real job position. Salary structure is the details of the salary being offered, in terms of the breakup of the different components constituting the compensation. Difference between ctc and take home salary explained. Monthly salary certificate company s letter head this is. Apr 27, 2020 find the ctc full form what is the full form of ctc.
Before hiring, a company always asks the following question to an employee. Understanding salary breakup, salary structure, and salary. Now a days, most of the companies offer their salary in the form of ctc. Ankit sharma, 22, an engineering graduate, was happy as he got placement through campus interview and was offered a salary package of rs 3. Hi, good day please can any one tell me what is the difference between gross salary and net salary and what do you mean by ctc. Gross means all payments made directly to an employee by an employer before any deductions. Ctc is listed in the worlds largest and most authoritative dictionary database of abbreviations and acronyms the free dictionary. The abbreviation ctc is often seen next to the stated salary package remuneration for the job opening being advertised. In this article, we will understand all these terms. Apr 11, 2020 difference between net salary, gross salary and ctc.
Ctc is not the salary what is actually received by the employee in cash. Difference between gross salary and ctc with comparison. Ctc salary statistics is not exclusive and is for reference only. What is the full form of ctc, ectc, ctc in salary breakup. The actual pay you receive for rendering your services to the company. It was a college campus placement and i was really proud of myself since i was one amongst the few people who were selected for the job.
Ctc full form ctc is used to refer to the total cost that an organization is spending in employing someone. Salary means gross pretax salary ctc inclusive of all components monthly, annual, retiral and deferred payments. It indicates the total amount of expense an employer organization is spending for an employee in a year. Difference between takehome salary, net salary, gross. We were given appointment letters showing ctc as inr 240,000. This term is commonly used for the total salary package of an employee, in asian countries e. It indicates the total expenses that a companyorganization spends on an employee in a year. It means your pay packagemonthly salary, which the company has to shell out every month for you.
Ctc consist of payments made directly or indirectly to an employee or to the benefit of an employee by his employer. Dec 15, 2012 please let me know about the ctc salary and calculation part for the that thing. Cost to company or ctc salary format in excel hr letter formats. The ectc is the cost that the company expects to incur in case they do hire that interviewer as an. We work hard and earn money but 80% of us are not aware about actual meaning of these words. Without the availability of information provided in a total compensation statement, it difficult to get or give a true picture of ctc. Creditors often look at your gross salary when determining.
Currently heshe is drawing monthly salary nr as per following breakup. Per month salary and other benefits that the company pays an employee, are actually cost to the company. Oct 18, 2010 the composition of your ctc and a few of its components could be grouped as below. The meaning of ctc in english the meaning of ctc, cost to the company ctc is a term for the total salary package of an employee, used. This confusion makes it difficult for people to distinguish between.
Aug 22, 2007 but gross is the total salary and benefits that you draw from a company. We must have listened these words basic salary, gross salary, ctc etc. A salary is the periodic payment that an employee receives from an employer in return for the work he provides. Cost to company ctc is the salary package of an employee. Gross salary is the term used to describe all of the money youve made while working at your job, figured before any deductions are taken for state and federal taxes, social security and health insurance. So if your annual ctc in india is rs 5 lakh, you can expect to get an annual takehome of 3.
Cost to company can also be used to refer to the total cost that an organization is spending towards their employee including the salary, perks, cost related to benefits, cost related to hiring, training, retirals, statutory contributions. Ctc is considered a variable pay as it varies based on various factors and thus when the ctc varies, the take home salary or net salary of the employee varies. Gross salary means the aggregate of salary, allowances and addon benefits received by an employee on annual basis. Current ctc the salary that you receive from current organization and expected ctc salary that you expect from us.
The ctc is the total amount of expense an employer is spending for an employee in a year. Cost to company ctc is a term which essentially implies the amount of expenses an organization will spend for an employee in a year. It is a total cost bear by the company to hire any employee or in some places, the definition of cost to company is different like it is an annual expense spends by the company on a single employee. Box 1800 killeen, texas 765401800 phone 2545267161 in state. Current ctc the salary that you receive currentlypresently expected ctc. Ctc package is a term often used by private sector indian companies while making an offer of employment. Ctc full form in hindi, difference between ctc and net salary, gross salary, in this video you will learn about ctc, net salary and gross salary. The full form of ctc which is widely used is cost to company. Ctc an agency that helps the director of central intelligence coordinate counterterrorist efforts in. The difference between ctc and gross salary, is that some components are included in one, but not in the other. If your ctc package is so high, why do you get so little in hand. They overload total expences of human resorces on salary, and show that they are paying this much salary to.
Find the meaning of ctc what is the meaning of ctc. Mar 30, 2010 cost to company ctc is the salary package of an employee. I was delighted and had already thought of all the continue reading understanding the difference between ctc and your take home salary. Income from salary calculation, allowances, perquisites. Mar 05, 2017 the terms np, ctc, current ctc, expected ctc ectc are used only in countries like india and south africa.
The ctc full form in english the full form of ctc is cost to company. Nov 24, 2006 salary means gross pretax salary ctc inclusive of all components monthly, annual, retiral and deferred payments. Compared to net salary, gross salary is your income which is typically stated on an annual basis, before any deductions or taxes come into effect. The taxpayer is required to submit form 16 to file the income tax. This is the major part of your ctc and forms part of your monthly take home. Ctc synonyms, ctc pronunciation, ctc translation, english dictionary definition of ctc. A free inside look at ctc salary trends based on 10 salaries wages for 10 jobs at ctc. There are three 3 types of provident fund amounts that are associated with a salaried person. The ctc includes the salary of an employee along with other extra expenses that are provided by the company.
What is meant by ctc salary and how we can say current ctc. The costtocompany is the sum of all direct and indirect benefits given to an employee. Salaries posted anonymously by central texas college employees. Salary breakup value pf deposited in pf department name annual benefits. The total cost that a company would incur, on an employee, in a year. Cost to company ctc is a term for the total salary package of an employee, used in countries such as india and south africa. Difference between ctc and gross salary salary and ctc. Difference between takehome salary, net salary, gross salary.
532 1142 711 802 29 613 622 436 1267 786 544 1541 58 147 524 839 1629 1249 274 809 642 1273 474 190 1285 1516 1392 1372 407 24 218 1079 177 1306 193 1225 1052 1458 436 1197 306