Check these Facts before attending an interview and before accepting an offer
You will soon be attending interviews both on/ off campus. You need to consider the following aspects about the company you intend to interview with:
Did they tell you about your job role or were you given a job description? Were you told or are you aware what the job is all about? If it sounds too rosy, be prepared to be a bit disappointed if/ when you join.
Compare your target company with the ones selected as great places to work. Check out some good practices followed by these companies by clicking this link http://bit.ly/jouqkJ
Does the company give the usual benefits they are supposed to, like earned leave, sick leave, medical cover, provident fund etc. if you are eligible? There are a number of companies which don’t, despite being big, even when it is mandatory.
If you are selected the company usually gives you an offer of an annual CTC (Cost to Company- the amount spent by a company to maintain an employee for a period of one year).
To take an example, consider gross pay as 10000/. CTC is 11945/- (see the calculation below)
Gross Pay= Basic 6000+ HRA (house rent allowance) 2000+ CCA (city compensatory allowance)1000 + conveyance allowance 1000 = 10000/-
Deduction = employees contribution to PF (provident fund) 720+ employee contribution to ESIC (Employees State Insurance Corporation) 175+ professional tax 175 = 1070
Net Pay = Take home salary for month= 8930/- (10000-1070=8930)
CTC = {Other benefits (contribution of employer to PF 720 + contribution of employer to ESIC 475 + bonus 500 + gratuity 250) +net pay 8930/-} per month
CTC per month will be 11945/-
CTC per year will be 11945/- * 12 =143340/-
So, when you are offered a position in a company, you need to check; is the pay being offered gross pay or net pay or monthly CTC or annual CTC. This is a very tricky part and needs to be clarified before accepting an offer.
It is always useful to know the facts before you take up an offer.
You will soon be attending interviews both on/ off campus. You need to consider the following aspects about the company you intend to interview with:
Did they tell you about your job role or were you given a job description? Were you told or are you aware what the job is all about? If it sounds too rosy, be prepared to be a bit disappointed if/ when you join.
Compare your target company with the ones selected as great places to work. Check out some good practices followed by these companies by clicking this link http://bit.ly/jouqkJ
Does the company give the usual benefits they are supposed to, like earned leave, sick leave, medical cover, provident fund etc. if you are eligible? There are a number of companies which don’t, despite being big, even when it is mandatory.
If you are selected the company usually gives you an offer of an annual CTC (Cost to Company- the amount spent by a company to maintain an employee for a period of one year).
To take an example, consider gross pay as 10000/. CTC is 11945/- (see the calculation below)
Gross Pay= Basic 6000+ HRA (house rent allowance) 2000+ CCA (city compensatory allowance)1000 + conveyance allowance 1000 = 10000/-
Deduction = employees contribution to PF (provident fund) 720+ employee contribution to ESIC (Employees State Insurance Corporation) 175+ professional tax 175 = 1070
Net Pay = Take home salary for month= 8930/- (10000-1070=8930)
CTC = {Other benefits (contribution of employer to PF 720 + contribution of employer to ESIC 475 + bonus 500 + gratuity 250) +net pay 8930/-} per month
CTC per month will be 11945/-
CTC per year will be 11945/- * 12 =143340/-
So, when you are offered a position in a company, you need to check; is the pay being offered gross pay or net pay or monthly CTC or annual CTC. This is a very tricky part and needs to be clarified before accepting an offer.
It is always useful to know the facts before you take up an offer.
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