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What is CTC(Cost to Company)?

1. Basic Salary: This is the fixed component of the salary and is usually the largest part. It is the core amount that is paid to the employee without any allowances or bonuses.

2. House Rent Allowance (HRA): If the employee is not provided with accommodation by the company, HRA is given to cover the cost of renting a house.

3. Conveyance Allowance: This is an allowance provided to meet the expenses related to commuting between the home and the workplace.

4. Medical Allowance: Companies may provide a certain amount as a medical allowance to cover medical expenses for the employee and their family.

5. Special Allowances: These are allowances provided to employees for specific purposes, and they vary depending on the company's policies.

6. Bonuses: Companies may offer performance bonuses, annual bonuses, or other types of bonuses as part of the CTC.

7. Provident Fund (PF): A portion of the CTC may be contributed to the employee's provident fund account.

8. Gratuity: Gratuity is a lump sum amount paid by the employer to the employee as a token of appreciation for the years of service. The gratuity component is included in the CTC.

9. Insurance Coverage: Some companies provide life insurance, health insurance, or other insurance coverage as part of the CTC.

10. Leave Encashment: Companies may include a provision for leave encashment, allowing employees to receive payment for unused leave days.