CTC and Bond in Jobs: Some Pros and Cons
[A] Introduction: I have come across two burning issues, as far as the recruitment and selection are concerned in India. There are a lot of opinions (misconceptions) and strong emotions associated with the areas or practices like CTC, take home salary, bond in the jobs, regarding the morality and legality of the same. In this blog post, I will try to create an awareness regarding these practices, and hopefully, will empower the reader to arrive at his/her own conclusion. [B] What is CTC?: CTC stands for Cost to the Company. It includes all the direct and indirect expenditures, that a company incurs on a particular employee. For example, basic salary, various allowances etc. Here is one example from Wikipedia: In other simple words, it is the total amount that an employer spends on an employee. Ideally, it includes everything, something as small as, the bill of a cup of tea, that an employee will receive, while traveling as a part of the job. Some com...