It indicates the total amount of expense an employer organization is spending for an employee in a year. 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. In this, we are going to answer all of the above questions. Now a days, most of the companies offer their salary in the form of ctc. 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. Ctc means the total amount spent by the company on the employee in a year. A free inside look at ctc salary trends based on 10 salaries wages for 10 jobs at ctc. 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. Ctc salary statistics is not exclusive and is for reference only. What is basic salary, gross salary, takehome salary and ctc.
Cost to company or ctc salary format in excel hr letter formats. If you work more than one job, youll have a gross salary amount for each one. What is current ctc and expected ctc for salary answers. Those that are new to the job market can find this quite misleading. The actual pay you receive for rendering your services to the company. It is the yearly package of the salary of any employee. Ctc synonyms, ctc pronunciation, ctc translation, english dictionary definition of ctc. Current ctc the salary that you receive currentlypresently expected ctc. What is the full form of ctc, ectc, ctc in salary breakup. A salary is the periodic payment that an employee receives from an employer in return for the work he provides. Companies over the years adopted the ctc concept so that they could compute the total money spent on an employee. Salary means gross pretax salary ctc inclusive of all components monthly, annual, retiral and deferred payments. The ctc is the total amount of expense an employer is spending for an employee in a year. 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.
Compare employer provident fund epf vs ppf public provident fund vs vpf voluntary provident fund. However, it is much more than the traditional salary. Looking for online definition of ctc or what ctc stands for. Ctc full form what is cost to the company techgeekbuzz. We were given appointment letters showing ctc as inr 240,000.
It indicates the total amount of expenses an employer organization spends on an employee during one year. Current ctc the salary that you receive from current organization and expected ctc salary that you expect from us. As a broad thumb rule, when talking about ctc in india, your inhand salary is approx. A free inside look at ctc salary trends based on 3 salaries wages for 3 jobs at ctc. Lets say other deduction of esic, mediclaim is inr 800. Understanding ctc and your actual salary rediff getahead.
Oct 18, 2010 the composition of your ctc and a few of its components could be grouped as below. Understanding the difference between ctc and your take home. Ctc faculty staff pay scales central texas college. Ctc stands for cost to company, which implies the overall cost incurred by the company on a particular employee, for hiring and. Your in hand salary is the amount after deduction all taxes, pf and other deductions from your ctc package or salary. Find the ctc full form what is the full form of ctc. If your ctc package is so high, why do you get so little in hand. Mar 05, 2017 the terms np, ctc, current ctc, expected ctc ectc are used only in countries like india and south africa. Gross salary means the aggregate of salary, allowances and addon benefits received by an employee on annual basis. Salaries posted anonymously by central texas college employees. The costtocompany is the sum of all direct and indirect benefits given to an employee. Dec 15, 2012 please let me know about the ctc salary and calculation part for the that thing. The full form of ctc which is widely used is cost to company.
Employers in india with an employee base of 20 or more employees are required to comply with the. Ctc is the amount of total expenditure a company does to an employee. They overload total expences of human resorces on salary, and show that they are paying this much salary to the staff. Difference between ctc and gross salary difference between. We work hard and earn money but 80% of us are not aware about actual meaning of these words. Now, as 10k is his basic salary hence as per rules of govt. There are three 3 types of provident fund amounts that are associated with a salaried person. Aug 22, 2007 but gross is the total salary and benefits that you draw from a company. Cost to company ctc meaning for net salary netcv south. Ctc is not the actual salary of an employee, it also includes all the facilities an. Nov 24, 2006 salary means gross pretax salary ctc inclusive of all components monthly, annual, retiral and deferred payments. Difference between gross salary and ctc with comparison.
It is the value that the company is spending on a particular employee in a year. We know 500 definitions for ctc abbreviation or acronym in 8 categories. Difference between gross salary and net salary pdf download. Each salary is associated with a real job position. Ctc is not the actual salary of an employee, it also includes all the facilities an employee is getting during the service period. Before hiring, a company always asks the following question to an employee. What is meant by ctc salary and how we can say current ctc. 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. 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.
Need to see the excel file for calculating salary structurebreakup with just ctc in excel. What you need to know about cost to company careers24. 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. It is calculated by adding salary to the cost of all additional benefits an employee receives during the service period.
I was delighted and had already thought of all the continue reading understanding the difference between ctc and your take home salary. It is one of the best place for finding expanded names. Ankit sharma, 22, an engineering graduate, was happy as he got placement through campus interview and was offered a salary package of rs 3. Esic deposited with esic dept designation individual component ic prof tax paid to pt department department bonus lumpsum lta payable. What is meant by ctc salary and how we can say current ctc in. It indicates the total expenses that a companyorganization spends on an employee in a year. The total cost that a company would incur, on an employee, in a year. So if your annual ctc in india is rs 5 lakh, you can expect to get an annual takehome of 3. 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. It basically encapsulates the salary package of an employee. Mar 30, 2010 cost to company ctc is the salary package of an employee. Understanding salary breakup, salary structure, and salary. Find the meaning of ctc what is the meaning of ctc.
Ctc full form in hindi, difference between ctc and net. Gross salary is the compensation receivedreceivable by an employee for his services provided. Difference between takehome salary, net salary, gross. In this article, we will understand all these terms. It indicates the total expenses that a companyorganization spends on an.
Jul 24, 2008 travel expenditures, interviewing, spending time with potential customers can all be interpreted as ctc s. Ctc an agency that helps the director of central intelligence coordinate counterterrorist efforts in. The ectc is the cost that the company expects to incur in case they do hire that interviewer as an. It is calculated by adding salary to the cost of all additional benefits an employee receives during the. This can be corrected by an individual by simply matching the ctc to the actual amount they are receiving. Ctc full form ctc is used to refer to the total cost that an organization is spending in employing someone. Difference between ctc and gross salary salary and ctc. The taxpayer is required to submit form 16 to file the income tax. Attached herewith ctc format that may help u to identify net take home salary, monthly ctc, yearly ctc in excel. Ctc salaries are collected from government agencies and companies. Difference between takehome salary, net salary, gross salary.
Cost to company ctc is the salary package of an employee. Ctc is listed in the worlds largest and most authoritative dictionary database of abbreviations and acronyms the free dictionary. Most of the companies now follow this ctc format to give salary to their employees. 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. Apr 27, 2020 find the ctc full form what is the full form of ctc. 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. Cost to company ctc is a term for the total salary package of an employee, used in countries such as india and south africa. 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. Certified tile consultant ceramic tile institute of america ctc. Possible ctc meaning as an acronym, abbreviation, shorthand or slang term vary from category to category. Cost to company ctc is a term which essentially implies the amount of expenses an organization will spend for an employee in a year. Per month salary and other benefits that the company pays an employee, are actually cost to the company. This is the major part of your ctc and forms part of your monthly take home. Visit to know long meaning of ctc acronym and abbreviations.
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. The abbreviation ctc is often seen next to the stated salary package remuneration for the job opening being advertised. 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. Salary structure is the details of the salary being offered, in terms of the breakup of the different components constituting the compensation. Gross means all payments made directly to an employee by an employer before any deductions. It means your pay packagemonthly salary, which the company has to shell out every month for you. Jun 14, 2012 attached herewith ctc format that may help u to identify net take home salary, monthly ctc, yearly ctc in excel. For ctc we have found 500 definitions what does ctc mean. Difference between net salary, gross salary and ctc. The ctc includes the salary of an employee along with other extra expenses that are provided by the company. 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. They overload total expences of human resorces on salary, and show that they are paying this much salary to. The difference between ctc and gross salary, is that some components are included in one, but not in the other.
This confusion makes it difficult for people to distinguish between. Ctc is not the salary what is actually received by the employee in cash. But gross is the total salary and benefits that you draw from a company. 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.
It is the salary which is the gross pretax salary inclusive of all components monthly, annual, retiral and deferred payments. Creditors often look at your gross salary when determining. Monthly salary certificate company s letter head this is. What is the difference between cost to company ctc and. This term is commonly used for the total salary package of an employee, in asian countries e. Income from salary calculation, allowances, perquisites. An employee, when seeking employment, will always look towards ctc, or cost to company, and gross salary. Ctc package is a term often used by private sector indian companies while making an offer of employment.
766 1404 930 468 774 1471 179 601 1375 621 507 704 1069 1417 68 1183 403 842 190 996 85 161 1529 384 221 417 480 1433 156 1134 59 1212 1380 616 745 66 1355 737 509 166 961 342 109