The terms like Salary, CTC, Basic salary, Gross salary, Net salary, Fixed allowance, Reimbursements, Tax deductions, Provident fund, ESIC, Professional Tax, Gratuity, LWF, etc often create confusion to employer and to the HR and Payroll professional's . In this article,we have attempted to delineate all the terms associated with the salary in order to make it simpler for you.
Read more to understand the salary breakup and the various terms associated with CTC.
