Whether Gratuity Is Part Of CTC
Advance Search Feature
Available Downloads - Page 1
Search Result For "Whether Gratuity Is Part Of CTC" - Page 1
Hi Twinkle,The gratuity amount is calculated in two cases:1) If the person is covered under the Payment of Gratuity Act 1971.2) If the person is not covered under the Payment of Gratuity Act 1971.In the first case, the calculation of the gratuity amount shall be...
Dear Sharma,In general, we are thinking that whatever the amount showing in the CTC should be paid to the employee as a matter of rights. I would like to clarify that the term CTC stands for Cost to the Company, as we are aware. This is used by the employer to c...
Dear All,I just want to clarify that if Gratuity is part of CTC, an employee must receive their Gratuity amount upon leaving the company, whether they have worked for 2 years or more than 5 years. I understand that the payment of gratuity is payable upon complet...
Dear Sharma.aksh,Pragnaa HRCS has rightly said that CTC stands for Cost to the Company. This term is used by the employer to calculate the total expenses involved in engaging an employee. The term CTC is relevant to the employer and not to the employee.While the...
Dear Sharma,I hope the reply given by Pragnaa HRCS has clarified all the doubts you have in your mind. CTC is the total cost incurred by the company for 1 year for employing a candidate, which does not mean or imply that it is compulsory for an employee to recei...
Hi,Gratuity is a statutory right of an employee who completes 5 years in the same organization and is a terminal benefit. The cost is to be borne by the employer and not the employee.Of late, the concept of adding Gratuity in CTC (companies having tie-ups with L...
Dear Seniors,Nowadays, is it correct for a company to include Gratuity as a part of CTC?Thank you.
Dear All,Gratuity is not a part of CTC.
Is gratuity part of the CTC? Please confirm.
It can't be a part of CTC, as the gratuity will be paid after completion of 5 years, except in the case of death. Hence, it need not be a part of CTC. Either the employee or the employer can provide a guarantee for five years of continuing service at the time of...