- #HOW TO DOWNLOAD SALARY MONTHLY SLIP FROM SSB FULL#
- #HOW TO DOWNLOAD SALARY MONTHLY SLIP FROM SSB PROFESSIONAL#
PPF account is generally opened either for tax-saving purposes or a long-term investment. The employer has nothing to do with PPF, and it is not mentioned on the payslip or offer letter.
This amount will be directly deposited in the employee's bank account. The lump-sum amount of EPF/PF acts as a retirement benefits scheme. Some commonly provided allowances are HRA(house rent allowance), LTA(local travel allowance), Conveyance Allowance (travel allowance), DA(dearness allowance), Medical allowance, etc.ĮPF/ PF is the investment made by both parties, i.e., Employer and Employee, each month. It is an additional amount paid apart from the basic salary. Other benefits and allowances that are part of CTC are as follows.Īllowances is the amount paid by the employer to the employees for meeting the service requirements.
#HOW TO DOWNLOAD SALARY MONTHLY SLIP FROM SSB PROFESSIONAL#
Net Salary = Gross Salary - Income Tax - PPF - Professional Tax It is also known as the Take-home salary.īelow is the formula to calculate Net Salary, The amount an employee will get in hand after deducting the income tax and other taxes as per the company policy.
It is a performance-based salary, which will be paid as a bonus for the employee performing better than others. The fixed salary is also known as the Basic salary. It remains constant, and it includes Basic DA, HRA, etc. It is the major part of CTC, which a person will be getting, as mentioned in the offer letter. There are various elements, including the benefits and contributions that form the part of a CTC.Īs explained above, CTC includes various components. Component of Salary (Per Annum) Component of Annual SalaryĬTC covers monetary and non-monetary amounts spent on an employee. The employees may not get the CTC amount in their hands.īelow are the examples for CTC breakup. So the base salary and CTC salary mean the same thing.įor example, in the private sector, if a company is paying the following INR 50,000 and providing some services, e.g., health, transportation, food, etc., then the CTC is INR 55,000. However, in government and semi-government organizations, the base salary (in-hand salary) is known as the salary. It is most commonly used in the private sector. CTC contains all amounts of money and cash that have not been spent on the employee.ĬTC includes a base salary and additional employee benefits to the employee in the service period. The CTC Pack is a commonly used term by private Indian companies while providing a service. Monthly salary and other benefits that a company pays an employee are an expense for the company. The meaning of CTC is the total cost that can be incurred by the company, to the employee, per year. Thus, CTC means the total amount spent by the company on the employee in a year.
#HOW TO DOWNLOAD SALARY MONTHLY SLIP FROM SSB FULL#
The full form of CTC is "Cost to Company." The term is commonly used for an employee's total salary package in Asian Countries, e.g., India, South Africa, Nepal, etc. Therefore, questions like How salary is calculated, what is CTC, why people get less compensation as mentioned in their offer letter, why our in-hand salary is less than our CTC, etc., are common for every employee. Once in a while, almost every employee at the beginning of their respective career must have gone through the salary calculation while getting their first salary. The term is commonly used for an employee's total salary package in Asian Countries.
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