Salary structure is the detailed break-up of the various components of monthly salary that is offered as compensation to an employee. The essential components of salary include: • Basic pay: This is approximately 40% of the Cost-To-Company (CTC) and it is taxable. • HRA: House Rent ...
Since total salary is a part of the compensation that an employee gets, it is very important. From a CTC (Cost to company) perspective, gross salary is the PF (provident fund) and gratuity removed from the CTC. Hence, gross salary is a part of the compensation and benefits to the emplo...
Gratuity is a payment made to an employee by the employer either at the time of retirement or when he is leaving the job. It is given to the employee once he/she has completed at least 5 years of continuous service. It is mandatory for any employer in the private sector or public sect...