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Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (159)
 Taxation interview questions  Taxation Interview Questions (1917)
 Accounting General interview questions  Accounting General Interview Questions (2844)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4376)
Question
What is difference between Gross salay and CTC?
 Question Submitted By :: Taxation
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
HI,

GROSS SALARY:-
To my knowledge, Gross salary includes heads such as basic,
DA, special allowances, HRA, employers contribution to PF,
ESI, Gratuity and other monthly emoluments.
CTC:-
But CTC is Gross Salary + Bonus, Medical, LTA, and other
annual emoluments paid annually.

Simply speaking,

Gross Salary= basic+ DA+ special allowances+ HRA+CCA+ other
monthly emoluments

CTC = Gross Salary + Bonus + Medical + LTA+ other annual
emoluments paid annually
 
Is This Answer Correct ?    117 Yes 25 No
Madan
 
Answer
# 2
Gross Salary in which we DON'T include the contribution of
Employer (as ESI EPF LWF ETC.)

&

CTC= cost to company in which we GROSS SALARY +
contribution of Employer (as ESI EPF LWF ETC.).
 
Is This Answer Correct ?    47 Yes 8 No
Ved Parkash Chauhan
 
 
 
Answer
# 3
gross salary means inculcate all benefit ctc means cost to
company
 
Is This Answer Correct ?    43 Yes 23 No
Om Prakash
 
Answer
# 4
Gross Salary includes Basic,HRA, DA, Special Allowance and
other Allowances what we Get .

Gross Salary doesnot include Employee's share of
contribution in PF, ESi. These are Basically Deductions
from Gross Salary to Get Net Salary.

CTC means Cost to Company (gross salry + Employer's share
of contribution for Esi,Pf,LWF etc.)
 
Is This Answer Correct ?    21 Yes 2 No
Ashok Kumar
 
Answer
# 5
so whatever ur CTC is then the employers share of ESIC and
PF will be deducted from employees salary???
 
Is This Answer Correct ?    8 Yes 3 No
Kaushik
 
Answer
# 6
Gross salary is including with variables.
CTC means cost to company including gross salary+employers
share of contribution for ESI+PF+LWF Etc.
 
Is This Answer Correct ?    7 Yes 4 No
Deepak
 
Answer
# 7
Gross salry contain the part of basic
salry,Hra,Con,DA,s/allws,imploree share of Pf,Esi,Lwf and
other facilities.

CTC means gross salry + implorer's share of Esi,Pf,LWF etc.
 
Is This Answer Correct ?    15 Yes 13 No
Sajjan Singh
 
Answer
# 8
Gross Salary in which we DON'T include the contribution of
Employer (as ESI EPF LWF ETC.)
 
Is This Answer Correct ?    6 Yes 5 No
Amit
 
Answer
# 9
Gross Salary in which we DON'T include the contribution of
Employer (as ESI EPF LWF ETC.)

&

CTC= cost to company in which we GROSS SALARY +
contribution of Employer (as ESI EPF LWF ETC.).
 
Is This Answer Correct ?    1 Yes 0 No
Bharat
 
Answer
# 10
Gross salary includes Basic,DA,HRA,Medical Allowance, O.T &
all other allowances which are paid to an employee on
monthly basis.
The deductions from the gross salary like
ESI,PF,Proffessional Tax, Loan, Salary advance etc.. is the
NET PAY.
The annual benefits which the company provides like Bonus,
Ex gratia,Medical,LTA plus the salary what you get is the
CTC.
 
Is This Answer Correct ?    5 Yes 5 No
Malini
 

 
 
 
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My income for the current year from Hiring Earth Moving Vehicle to a contractor will be 250000/-my total savings are 125000,payment of my childrens tution fees will be 35000 So mine will be below taxable income .Pl let me know whether there is any chance to escape from TDS obligation.If so Pl let me know the procedure   2
 
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