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. 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.

Bmc employee salary slip