![]() : These are considerable amount of benefits received by an employee as a result of his/her position in an organization and are payable in addition to the salary received by them. ![]() Besides, the basic salary is always lower than the gross salary or the take-home salary. Let us look at some of the above components in detailīasic Salary: Basic salary is the exact amount paid to an employee before any deductions are made or extra components are added to the salary. Other components such as the salary arrears, remuneration or fee, overtime payment, and performance related cash awards.īenefits like rent for accommodation, electricity, fuel charges, and water.Īllowances such as the travel allowance, medical allowance, leave travel allowance etc. The components of Gross salary consists of the following:Ĭomponents that form a part of Gross salary are listed below: In literal terms, Gross Salary is the monthly or yearly salary before any deductions are made from it.Ī gross salary is a gratuity and EPF (employee provident fund) subtracted from the cost to the company. ![]() But, the point to remember here is that cost to the company is never equal to the amount of money one gets to take home. Cost to the company is the amount that the company will have to incur on an employee for a specific year. The employees who are paid for their services are offered gross salary as their CTC (cost to company). ![]()
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