The full form of ctc which is widely used is cost to company. Jul 24, 2008 travel expenditures, interviewing, spending time with potential customers can all be interpreted as ctc s. Salary means gross pretax salary ctc inclusive of all components monthly, annual, retiral and deferred payments. Understanding the difference between ctc and your take home. Mar 05, 2017 the terms np, ctc, current ctc, expected ctc ectc are used only in countries like india and south africa. In this article, we will understand all these terms. Apr 11, 2020 difference between net salary, gross salary and ctc. The abbreviation ctc is often seen next to the stated salary package remuneration for the job opening being advertised. It is one of the best place for finding expanded names.
Ctc package is a term often used by private sector indian companies while making an offer of employment. Esic deposited with esic dept designation individual component ic prof tax paid to pt department department bonus lumpsum lta payable. Dec 15, 2012 please let me know about the ctc salary and calculation part for the that thing. Current ctc the salary that you receive from current organization and expected ctc salary that you expect from us. Aug 22, 2007 but gross is the total salary and benefits that you draw from a company. Ctc full form in hindi, difference between ctc and net.
Find the meaning of ctc what is the meaning of ctc. Difference between gross salary and net salary pdf download. Difference between gross salary and ctc with comparison. Your in hand salary is the amount after deduction all taxes, pf and other deductions from your ctc package or salary. Current ctc the salary that you receive currentlypresently expected 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. Ctc full form ctc is used to refer to the total cost that an organization is spending in employing someone. 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. It is the salary which is the gross pretax salary inclusive of all components monthly, annual, retiral and deferred payments. A free inside look at ctc salary trends based on 10 salaries wages for 10 jobs at ctc. Most of the companies now follow this ctc format to give salary to their employees. We work hard and earn money but 80% of us are not aware about actual meaning of these words. Cost to company ctc is a term which essentially implies the amount of expenses an organization will spend for an employee in a year.
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. It is the value that the company is spending on a particular employee in a year. Understanding salary breakup, salary structure, and salary. What is the difference between cost to company ctc and. 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. It is calculated by adding salary to the cost of all additional benefits an employee receives during the service period. Box 1800 killeen, texas 765401800 phone 2545267161 in state. Apr 27, 2020 find the ctc full form what is the full form of ctc. What you need to know about cost to company careers24. Ctc synonyms, ctc pronunciation, ctc translation, english dictionary definition of ctc. Cost to company ctc is the salary package of an employee. Lets say other deduction of esic, mediclaim is inr 800. 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.
The difference between ctc and gross salary, is that some components are included in one, but not in the other. Cost to company ctc meaning for net salary netcv south. They overload total expences of human resorces on salary, and show that they are paying this much salary to. We were given appointment letters showing ctc as inr 240,000. For ctc we have found 500 definitions what does ctc mean. They overload total expences of human resorces on salary, and show that they are paying this much salary to the staff.
The ctc is the total amount of expense an employer is spending for an employee in a year. Ctc faculty staff pay scales central texas college. Oct 14, 2011 its important because a lot of components of your ctc in india may not translate into actual takehome cash every month. If you work more than one job, youll have a gross salary amount for each one. Without the availability of information provided in a total compensation statement, it difficult to get or give a true picture of ctc. 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. 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.
This is the major part of your ctc and forms part of your monthly take home. Employers in india with an employee base of 20 or more employees are required to comply with the. Per month salary and other benefits that the company pays an employee, are actually cost to the company. The actual pay you receive for rendering your services to the company. Currently heshe is drawing monthly salary nr as per following breakup. Difference between ctc and gross salary difference between. It indicates the total expenses that a companyorganization spends on an employee in a year. Now, as 10k is his basic salary hence as per rules of govt. Ctc is not the actual salary of an employee, it also includes all the facilities an employee is getting during the service period.
The ctc full form in english the full form of ctc is cost to company. Need to see the excel file for calculating salary structurebreakup with just ctc in excel. There are 3 terms that are generally used in indian salary structure 1. 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. Income from salary calculation, allowances, perquisites. Looking for online definition of ctc or what ctc stands for. Difference between ctc and take home salary explained. This can be corrected by an individual by simply matching the ctc to the actual amount they are receiving. But gross is the total salary and benefits that you draw from a company. If your ctc package is so high, why do you get so little in hand. It is calculated by adding salary to the cost of all additional benefits an employee receives during the. 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.
The taxpayer is required to submit form 16 to file the income tax. Ctc stands for cost to company, which implies the overall cost incurred by the company on a particular employee, for hiring and. We must have listened these words basic salary, gross salary, ctc etc. 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. Ctc consist of payments made directly or indirectly to an employee or to the benefit of an employee by his employer.
Salary breakup value pf deposited in pf department name annual benefits. In this, we are going to answer all of the above questions. Difference between takehome salary, net salary, gross salary. Salary structure is the details of the salary being offered, in terms of the breakup of the different components constituting the compensation. Visit to know long meaning of ctc acronym and abbreviations. Ctc full form what is cost to the company techgeekbuzz. Ctc or cost to company is the total amount that a company spends. Understanding ctc and your actual salary rediff getahead. This confusion makes it difficult for people to distinguish between. The total cost that a company would incur, on an employee, in a year. As a broad thumb rule, when talking about ctc in india, your inhand salary is approx. 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. Nov 24, 2006 salary means gross pretax salary ctc inclusive of all components monthly, annual, retiral and deferred payments.
So if your annual ctc in india is rs 5 lakh, you can expect to get an annual takehome of 3. What is the full form of ctc, ectc, ctc in salary breakup. The ctc includes the salary of an employee along with other extra expenses that are provided by the company. 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. It means your pay packagemonthly salary, which the company has to shell out every month for you. Those that are new to the job market can find this quite misleading. Find the ctc full form what is the full form of ctc.
There are three 3 types of provident fund amounts that are associated with a salaried person. It indicates the total amount of expense an employer organization is spending for an employee in a year. Possible ctc meaning as an acronym, abbreviation, shorthand or slang term vary from category to category. Difference between net salary, gross salary and ctc. This term is commonly used for the total salary package of an employee, in asian countries e.
What is meant by ctc salary and how we can say current ctc. Ctc salary statistics is not exclusive and is for reference only. Ctc salaries are collected from government agencies and companies. The ectc is the cost that the company expects to incur in case they do hire that interviewer as an.
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. Now a days, most of the companies offer their salary in the form of ctc. Mar 30, 2010 cost to company ctc is the salary package of an employee. However, it is much more than the traditional salary. 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. Compare employer provident fund epf vs ppf public provident fund vs vpf voluntary provident fund. It indicates the total expenses that a companyorganization spends on an. Monthly salary certificate company s letter head this is.
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. What is meant by ctc salary and how we can say current ctc in. Difference between ctc and gross salary salary and ctc. It basically encapsulates the salary package of an employee. Ctc is the amount of total expenditure a company does to an employee. It indicates the total amount of expenses an employer organization spends on an employee during one year. 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 yearly package of the salary of any employee. We know 500 definitions for ctc abbreviation or acronym in 8 categories.
What is current ctc and expected ctc for salary answers. Gross salary is the compensation receivedreceivable by an employee for his services provided. Cost to company ctc is a term for the total salary package of an employee, used in countries such as india and south africa. Certified tile consultant ceramic tile institute of america ctc. Each salary is associated with a real job position. A salary is the periodic payment that an employee receives from an employer in return for the work he provides. A free inside look at ctc salary trends based on 3 salaries wages for 3 jobs at ctc. Ctc an agency that helps the director of central intelligence coordinate counterterrorist efforts in. Difference between takehome salary, net salary, gross. Companies over the years adopted the ctc concept so that they could compute the total money spent on an employee.
What is basic salary, gross salary, takehome salary and ctc. Before hiring, a company always asks the following question to an employee. Jun 14, 2012 attached herewith ctc format that may help u to identify net take home salary, monthly ctc, yearly ctc in excel. Attached herewith ctc format that may help u to identify net take home salary, monthly ctc, yearly ctc in excel. Cost to company or ctc salary format in excel hr letter formats. I was delighted and had already thought of all the continue reading understanding the difference between ctc and your take home salary. Oct 18, 2010 the composition of your ctc and a few of its components could be grouped as below.
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