The Full Form of CTC Meaning, and Definition 

On this page, We are going to learn about the full form of CTC in the terms of job and salary and the meaning of CTC, As well as the meaning, definition, and acronym for CTC in different categories. So you should read this post till the end.

The Full Form of CTC: Cost To Company

CTC stands for Cost To Company. A company’s total cost of hiring an employee is called its CTC. CTC also includes many other elements. The basic pay includes House Rent Allowance (HRA), Provident Fund (PF), and Medical Insurance, among others.

In addition to free food, these allowances may include office space rent, cab service, subsidized loans, etc. There is a connection between all of these elements.

In a way, CTC refers to the total cost of the company. CTC can be defined as the expenditures incurred by the company to maintain the services of an employee.

The CTC is considered variable pay since it varies according to various factors. A higher CTC does not necessarily mean a higher monthly salary for the employee

What is CTC in salary for example?

Here is an example that will help us understand CTC. Suppose Mr. XYZ is kept in CTC by ABC company for Rs.2 lakh. Their annual income is shown below with the figures –

Basic Salary: 1,38,250
HRA: 22000
CA: Rs. 12000
Medical Expense: Rs. 8000
EPF Contribution: Rs. 9500
Gratuity: Rs. 6000
Special Allowance: Rs. 4250

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Component of CTC

The total cost of the company over an employee is shown as a breakdown. The company’s CTC is made up of almost all the elements mentioned below.

CTC = Direct Benefits + Indirect Benefits + Savings Contributions

Direct BenefitIndirect Benefits Savings Contributions
Dearness Allowance (DA)Interest-Free LoansSuperannuation benefits
Conveyance AllowanceFood Coupons/Subsidized mealsEmployer Provident Fund (EPF)
House Rent Allowance (HRA)Company Leased AccommodationGratuity
Medical AllowanceMedical and Life Insurance premiums paid by the employer
Leave and Travel Allowance (LTA)Income Tax Savings
Vehicle AllowanceOffice Space Rent
Telephone/ Mobile Phone Allowance
Incentives or bonuses Special Allowance
City Compensatory allowance, etc.

The meaning and full form of CTC

There are some of the most commonly used acronyms, abbreviations, full forms, and CTC meanings are listed in different categories below the table.

AcronymsFull Form
CTCCarbon TetraChloride
Chemistry
CTCCentralized Traffic Control
Governmental
CTCChannel To Channel
Computing
CTCClear To Close
Mortgage
CTCCoast To Coast
Accounting
CTCCoffee, Tea, and Cakes
Food & Nutrition
CTCCombat Training Center
Governmental
CTCCommon Toxicity Criteria
Medical
CTCCommunity and Technical Colleges
Colleges
CTCCommunity Technology Center
Community
CTCCompetition Transition Charge
Business
CTCComputer Training Centre
Computing
CTCConnective Tissue Core
Medical
CTCCore Technical Capabilities
Governmental
CTCCost To Company
Accounting — and more…
CTCCut, Tear, Crush
Medical
CTCCyclists Touring Club
Sports
Full Form of CTC

Now you might have got some ideas about the abbreviation, acronym, full form, and meaning of CTC. Also all popular full forms, acronyms, abbreviations, and CTC meanings and definitions.

 

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