What’s your CTC?
‘IT and IT enabled services’ Professionals beware. What you get is not always what you will get.
When you get your offer letter, you will be pleased to find out an impressive looking figure on it. You would also notice that the letter also mentions your salary break-up. The accounts personnel would probably explain you the basic calculations. But you prefer not to talk about it then. At the moment you are overjoyed by winning the bargain. You are on a high. You are delighted and you want to celebrate your victory.
But what happens when you get your first salary? You are disappointed. Why? You feel cheated. Why? You are depressed. Why? Let’s find out.
Let’s say your package is 5 lacs. You know that your PF is deducted from your salary. Considering components like performance incentive, gratuity, income tax, and other standard components, when you get your salary slip, you find that there is something missing. A portion of your salary is not documented.
Surprisingly, when you calculate the missing amount, you find that it is equal to 12 times your monthly PF deduction. Hold on a minute here. Relax and unfold your salary slip. Now calculate your monthly gross income. Then annual gross and then try to confirm your CTC. You will find out yourself.
Yes! The PF deduction that shows on your salary slip is the company contribution. Your contribution is not documented on your slip. It is documented no where, not even in the offer letter or the agreement letter.
What are you waiting for? Go ahead and confirm. Henceforth before you accept any new offers, beware!
Check your salary break-up NOW! You will feel the difference.