CTC stands for Cost to Company. It is a term related to Business Terms, Useful Terms and Definitions which we use in daily life but we do not know their full name, Here’s a list of important abbreviations that you should know.
|CTC||Cost to Company|
What is full form of CTC?
The full form of CTC is the Cost to Company. Cost to Company (CTC) is a term which essentially implies the amount of expenses an organization will spend for an employee in a year.
CTC is not the salary what is actually received by the employee in cash.
Here you learn the full name and complete information of Cost to Company, if you have questions and answers related to CTC, then tell us your thoughts in the comment, know the complete meaning of CTC in this article.
Cost to company (CTC) is a term for the total salary package of an employee, used in countries such as India and South Africa. … If an employee’s salary is ₹500,000 and the company pays an additional ₹50,000 for their health insurance, the CTC is ₹550,000. Employees may not directly receive the CTC amount.
When a job is advertised, the abbreviation CTC – cost to the company – is often seen next to the salary package. … The CTC is the entire amount a company is willing to pay for an employee, whereas your nett salary is your take-home pay after deductions such as tax, medical aid, UIF etc.
Here, Earnings = Basic Salary + Dearness Allowance + House Rent Allowance + Conveyance Allowance + Medical Allowance + Special Allowance.