Gross salary is the aggregate amount of compensation discharged or spent by an employer or company towards the employment of an employee, before any deductions. The aggregate compensation would be the Cost to Company or CTC to employees. CTC = Direct Benefits + Indirect Benefits + Savings Contributions CTC contains all the monetary and non-monetary amounts spent on an employee. These include: Expected CTC is a term used to understand what a candidate is expecting from the organisation in terms of his/her CTC. Take-home pay is the net amount of income received by the employee after the deduction of taxes, benefits, and other voluntary contributions from their paycheck. Whereas CTC or Cost to Company is the sum or total amount a company is spending on an employee in a year. It includes the Take Home Salary along-with other benefits and allowances. The CTC is made up of several different components including the take home pay, benefits, allowances, and more. Here are the crucial components of the CTC break-up: There are two kinds of benefits, direct and indirect: When negotiating, make sure to try and increase the direct benefits component as much as possible. Here are a few ways: In-hand salary is the net amount of income received by the employee after the deduction of taxes, benefits, and other voluntary contributions from their paycheck. Whereas CTC or Cost to Company is the sum or total amount a company is spending on an employee in a year. It includes the In-hand salary along-with other benefits and allowances.What is Cost to Company (CTC) and gross salary?
How is Cost to Company (CTC) calculated in salary?
What does Cost to Company (CTC) include?
What is expected Cost to Company (CTC)?
Is Cost to Company (CTC) the same as take-home salary?
What is Cost to Company (CTC) breakup?
What are the Cost to Company (CTC) Benefits in India?
How to make the most of Cost to Company (CTC) being offered?
What is the difference between CTC and in hand salary?
FAQs
What is Cost to Company (CTC)? | Meaning & How It's Calculated | HR Glossary? ›
CTC is calculated by adding salary and additional benefits that an employee receives such as EPF, gratuity, house allowance, food coupons, medical insurance, travel expense and so on. CTC in colloquial terms is the cost an employer bears to hire and sustain its employees. Formula: CTC = Gross Salary + Benefits.
What is CTC in human resources? ›Cost to Company (CTC) refers to the total salary package of the employee. It is inclusive of all monthly components such as basic pay, reimbursem*nts, various allowances, etc. and all annual components such as gratuity, annual variable pay, annual bonus, etc.
What does CTC mean measurement? ›Centre-to-centre distance (c.t.c. distance or ctc distance) is a concept for distances, also called on-center spacing (o.c. spacing or oc spacing), heart distance, and pitch.
What is the formula for CTC? ›CTC in colloquial terms is the cost an employer bears to hire and sustain its employees. Formula: CTC = Gross Salary + Benefits. If an employee's salary is ₹40,000 and the company pays an additional ₹5,000 for their health insurance, the CTC is ₹45,000. Employees may not directly receive the CTC amount as cash.
How do you respond to HR for CTC? ›- Understand the components of CTC. ...
- Perform research on salary trends. ...
- Mention a salary range. ...
- Be ready with a rational explanation. ...
- Deflect the question if necessary. ...
- Mention expected CTC during formal rounds. ...
- Be willing to negotiate. ...
- Be realistic and truthful about your answer.
CTC or Cost to Company is the total amount of direct and indirect benefits you received from the company. It includes all taxes, insurance, allowances, and other added expenses. Whereas in-hand salary refers to the amount that is left after deducting all the added components from the CTC.
Why is CTC used? ›Connectionist Temporal Classification (CTC) is a type of Neural Network output helpful in tackling sequence problems like handwriting and speech recognition where the timing varies. Using CTC ensures that one does not need an aligned dataset, which makes the training process more straightforward.
What is CTC healthcare? ›CTC (“Cape -to-Cairo”) Health Consultants is an Africa focused, independent, physician owned and operated organization that provides a wide range of healthcare delivery.
What is CCS measurement unit? ›A cubic centimetre (or cubic centimeter in US English) (SI unit symbol: cm3; non-SI abbreviations: cc and ccm) is a commonly used unit of volume that corresponds to the volume of a cube that measures 1 cm × 1 cm × 1 cm. One cubic centimetre corresponds to a volume of one millilitre.
What is your expected CTC answer? ›If the question of expected CTC comes up, indicate a range that you just are comfy with, based on your previous analysis of salaries and your current wage. Think about the allowances and edges and the parts that are added to your take-home salary before indicating your expected salary range.