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What is CTC?

What is CTC?

CTC stands for Cost to Company. “Cost to Company” means all the costs borne by a company associated to employ an individual.

Formula For CTC

CTC = Direct benefits + Indirect benefits + Saving Contributions

Direct Benefits: Basic Salary, DA, Conveyance Allowance, HRA, Medical Allowance, LTA and other allowances if any.

Indirect Benefits: Interest-free loans, food coupons, Company leased Accommodations, Medical Insurance, Income Tax savings.

Saving Contributions: Annual benefits, EPF, professional tax etc.

You can find these terms in your salary slips. Note that the Indirect benefits and the Savings contributions do form a part of your compensation but not your take home salary.

Salary Slip Template

You can download ready to use Salary Slip Excel Template from the link below

Salary Slips

Additionally, you can also download other accounting and financial analysis templates from the links below:

Accounting Templates

Financial Analysis Templates

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Filed Under: HR & Payroll Glossary

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About Shabbir Bhimani

I have worked in Excel and like to share functional excel templates at ExcelDataPro.

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