CTC of Company, Basic Salary, Gross Salary The excitement of getting the first job is punctured on getting the first pay. It is usually less than what the fresher employee expected. Usually, in the campus interviews company advertise their Cost to Company (or CTC) and people mistake their s...
The difference between gross and net income boils down to the difference between what you bring in (gross income) and what you get to keep for spending (net income). Why does knowing the difference between gross vs. net income matter? Understanding the difference between gross income...
Gross Salary: The salary that shows on your income statement excluding all deductions such as Income Tax. CTC: The cost to the company for maintaining that employee. Here is where the company-provided benefits like Health Insurance are included. 4. Difference between salary and wages The followin...
Difference between Lay-off and Retrenchment Difference Between Layoff and Lock-out Difference Between Compensation and Benefits Difference Between Employee and Independent Contractor Difference Between Gross Salary and CTC Difference Between Gratuity and Pension Leave...
Gross Salary = Basic Salary + Allowances + Perquisites + Fees, Commission and Bonus + Variable Pay+ Retirement Benefits (EPF/NPS) Net Salary = Gross Salary – Tax(Income Tax, Professional Tax) CTC = Net Salary + Indirect Benefits( Food coupons, Interest Free Loans) ...
The difference between gross salary and CTC are presented in detail hereunder: Gross salary implies the total salary received by an employee, in a particular financial year, which includes basic pay, allowances and add-on benefits. On the other extreme, CTC can be defined as the cost incurred...
Both the Form W-2 and Form 1099 serve a similar purpose—to report income you earned from sources throughout the tax year—but each is issued under different circumstances and requires slightly different approaches for tax season planning. Here are some
Compensation is used to mean the financial and non-financial reward paid to the employee for the services provided by him/her to the organization. On the contrary, benefits entails the non-monetary rewards offered to an employee as a part of their salary package for his/her contribution to th...
On the other hand, the stipend is provided to the interns or apprentices, who work in the organization for the short term, with an aim of learning and getting the experience of work life. In this article, we’ve provided you with the difference between salary and stipend in a detailed ma...
Also Read:Difference Between Gross Salary and CTC Key Differences Between Allowance and Perquisites The difference between allowance and perquisites are discussed in the points that follow: Allowance refers to the extra amount which an employer pays to the employee to cope with particular expenses for...