Understanding




Understanding CTC and Your Salary Breakup


CTC is a commonly used term, aggressively negotiated and chased by professionals as self- value proposition and then conveniently forgotten in pursuit of the monthly fixed salary component.

Understanding CTC

The Cost to Company (CTC) includes all monetary and non-monetary benefits that a company absorbs to facilitate continuity of one's employment. Hence, it is a bigger picture than the net monthly receivables of an employee.

For example- Mr. X into his first job would consider entire CTC of Rs 1 lakh as his take home salary with belief that he would get Rs 8333 per month for all 12 months. This is one of the examples of lapse of judgment that most professionals make while working out their actual compensation from an employer.

Need Salary Breakup to make 20K p.m in hand - employers ...
31 Dec 2012 ... Need Salary Breakup to make 20K p.m in hand ... Deepak: Please let me know
what shud be gross CTC. ... Annual total cost is also called as CTC. Hope now it ...
http://www.citehr.com/34484-need-salary-breakup-make-20k-p-m.html

CTC – the components

CTC comprises of a fixed compensation plus variable performance pay

What should be th ideal salary break up for an annual CTC of ...
Prasanth has given a good breakup. To learn more, read. Income From Salary
http://mytaxes.in/index.php?topic=17.0 and. How to make salary ...
https://answers.yahoo.com/question/index?qid=20080616035759AADfLsZ

A) Fixed Salary – this has following sub-components:
  • Basic Salary: A taxable amount, actually paid to an employee
  • Dearness Allowance: A taxable amount, aimed to compensate for the rising cost of living (may not be applicable to all employers)
  • House Rent Allowance (or HRA): Paid to meet expenses of renting a house computed as a percentage of basic which varies from 50% for metrocities to 30-40% for Class A or Class B cities. It is exempted from tax
  • Conveyance Allowance: A maximum, tax-exempted amount of Rs 800 per month is provided.

B) Reimbursements – Payment as in reimbursements through billed claims.
  • Telephone Bills and Fuel & Maintenance: A taxable amount, comprising of company's reimbursement for employees' landline or mobile bills and fuel expenses, subjected to a limit, upon submission of claims accompanies by bills
  • Medical Reimbursements: Payable for medicines and medical treatment, subjected to Rs 15000 annually. The entire amount is taxable unless bills are provided for the amount. Payout cycle varies from monthly to annually
  • Vehicle Hiring/Meals: Meal coupons are tax exempt provided it is not in the form of cash. Vehicle hiring is subjective to hierarchy grades and is also tax exempted up to a limit

C) Retirement payables
  • Provident Fund: 12% of Basic is deducted from the Employees' salaries with equal contribution from employer
  • Gratuity: Ideally a payable to employees with five years of services to same company and is a taxable, annual payment.

D) Perks – these may vary across companies and comprise of:
  • Leave Travel Allowance: Cost of domestic travel in India when on leave. Tax exemption is allowed twice in a block of four calendar years.
  • Insurance premium: Premium paid for insurance risk cover policies of employees and dependants
  • Other perks: At discretion of company and can be electricity, servant, furnishings, credit cards and housing.

Creation of CTC break up in IT 0008 record. | SCN
6 .Check Assignment of Pay Scale Structure to Enterprise Structure. 7 .Determine
default for pay scale data. Wage Types -->. Create wage type ...
http://scn.sap.com/thread/3507487







http://flame.org.in

Meat
In San Francisco, where so many food trends start, fake chicken is flying out the door. At Whole Foods in the Haight-Ashbury, a week's supply of the new meat-substitute, called Beyond Meat, sold out in two days.
Day 11 - Build a Lemonade Stand
Day 11! You can see links to the complete series here, and learn about my Lowe's gift card giveaway here . In this series, we're seeing what we can make out of 2x4's. I want to keep it cheap, keep it easy, and keep it totally doable for anyone.
S March Madness 2012: Finding the method for your bracket
As a statistical revolution sweeps through professional sports, the NCAA men’s basketball tournament remains a safe haven for the irrational. You can dissect any matchup; there is enough data on all of the 68 teams to figure out patterns to their performances.
About