Salary Breakup

What is Salary Breakup?

A salary breakup is a salary structure of being offered to employees. Salary is further divided into components like basic salary, CTC, allowances, deductions, insurances, etc.

Components Of Salary

• Basic Salary

A basic salary is a fixed salary excluding bonuses and benefits.

• CTC ( Cost To Company)

CTC is the total amount spent on an employee by a company. CTC refers to the entire package an employee receives as an offer.

• Bonus

A bonus is awarded money to an employee for his/her good performance.

• Allowances

Allowances are an amount provided to an employee by the employer to meet the service requirements, for example, HRA, DA Medical, etc.

• Insurance

Insurance is a deduction of a small amount of money from an employee’s salary which then goes towards the life or health insurance of an employee.

• Taxes

It is a deduction that is being deducted from the employee’s salary to the income tax department.

• PF

PF- Provident Fund is a scheme that is useful after retirement. It’s an investment policy for all salaried employees.

• Gross Salary

Gross salary is in addition to basic salary and allowances.

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Also, See: Salary Structure