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.
A basic salary is a fixed salary excluding bonuses and benefits.
CTC is the total amount spent on an employee by a company. CTC refers to the entire package an employee receives as an offer.
A bonus is awarded money to an employee for his/her good performance.
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.
It is a deduction that is being deducted from the employee’s salary to the income tax department.
PF- Provident Fund is a scheme that is useful after retirement. It’s an investment policy for all salaried employees.
Gross salary is in addition to basic salary and allowances.
Also, See: Salary Structure
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