Hr2Payroll - Customer and General Discussions
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hi, is there a standard formula for calculating CTC, tks in advance
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Hello Meena,
There is no specific or standard formula to calculate CTC. It is company specific. Generally it includes the following components :
1. Basic Pay
2. Employers contributions towards retirals: PF, Gratuity, Superannuation Fund
3. Allowances : all allowances like Housing, Medical, Conveyance, Education, etc.
4. Performance Pay : fixed or variable bonus
5. Any other cash able benefit like mobile phones, fuel charges, food coupons, etc.
Hope it will help you........
Pooja
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