Take Home Salary = Gross Salary – Income Tax – Employee’s PF Contribution(PF) – Prof. Tax. Gross Salary = Cost to Company (CTC) – Employer’s PF Contribution (EPF) – Gratuity . Gratuity = (Basic salary + Dearness allowance) × 15/26 × No. of Years of Service.
Read moreHow is CTC calculated in salary?
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.
Read moreHow do I calculate CTC in Excel?
How to CTC Calculation sheet?
Read moreWhat is CTC in Excel?
CTC = Direct benefits + Indirect benefits + Saving Contributions . Direct Benefits: Basic Salary, DA, Conveyance Allowance, HRA, Medical Allowance, LTA and other allowances if any. Indirect Benefits: Interest-free loans, food coupons, Company leased Accommodations, Medical Insurance, Income Tax savings.
Read moreHow do you calculate CTC?
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 .
Read moreHow is basic salary calculated from CTC in India?
CTC = Earnings + Deductions Here, Earnings = Basic Salary + Dearness Allowance + House Rent Allowance + Conveyance Allowance + Medical Allowance + Special Allowance.
Read moreHow is salary break up calculated in CTC?
It is calculated by adding salary to the cost of all additional benefits an employee received during service period . If an employee ‘s salary is rupees 500000 and company pays additional 50,000 for their health insurance , the CTC is rupees 550,000. Employee may not directly received the CTC amount.
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