CTC: Cost To Company
CTC Full Form
CTC Full Form is Cost To Company. Cost To Company also known as Corporate cost (CTC) is a term that refers to the gross salary of employees and is used in countries such as India and South Africa. It indicates the total expenses that the business owner (organization) spends on employees in the year.
It is derived by adding the salary to the cost of all other benefits that the employee receives during the period of service. If the employee’s salary is $ 500,000 and the company pays 50,000 rubles for health insurance, the CTC is $ 550,000. Employees may not receive the CTC amount directly.
CTC is not an actual employee salary. It also includes convenience for staff while on duty.CTC is not only a stipend, but it also includes meals, medical facilities, phone bills, housing facilities, travel allowances, and many other things.
Some companies, especially the large investment banks, have increased the rent for office space in the CTC package.
Additionally, if your company provides you with accommodation, cars, drivers, etc., the value of these facilities will be included in your CTC.
CTC = Total Salary + Bonus + Other Expenses
If the company offers variable dividends based on annual performance (also called bonuses or commissions), this will also be included in the CTC. The variable compensation is usually a certain percentage of the gross salary, usually 5% -30%. Since this is performance dependent, the employee may receive 50% to 150% of their variable salary based on their performance for the year.
Some Other CTC Full Form
|CTC||Central Texas College||College|
|CTC||Calcutta Tramways Company||Company|
|CTC||Counter Terrorism Command||London Metropolitan Police|
|CTC||Chennai Trekking Club||Sports|
What Is CTC Salary?
CTC full form is Cost To Company is the amount that the business owner spends on employee recruitment service. … Gross Salary: Subtract Pay and Employee Provident Fund (EPF) from expenses, and company subtraction (CTC), the amount you get is your gross salary. Employees may not directly receive the CTC amount.
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