CTC Full Form is Cost To Company. CTC is nothing but the overall cost of an employee to a business or company. CTC includes various factors like basic salary and allowances like travel allowance, house rent allowance, leave allowance, conveyance allowance, phone allowance, medical allowance etc. Any individual applying to a professional company is always expected to fill in his current CTC and the expected CTC which is one of the essential criteria to employ an individual.
Nonetheless, there is a sizable difference between the take-home or net salary and CTC which even experienced people are yet to understand. While switching jobs, most people tend to get convinced with the hike in CTC and later be disappointed to see that the net take away amount has not increased. This is because CTC includes the perks, contributions, PF, various benefits and other contributions. And the net salary is calculated after deducting the amount for the benefits and perks. This is something to be completely understood for by every employee.
A job seeker always looks out for a hefty pay package. Many times after going through the selection process, the HR executive put forth the CTC or cost to the company before the prospective employee. A new job seeker often gets overwhelmed by looking at the large figure as he thinks that it is the salary that he will be taking home. Then comes the payday and he gets a shock to see a lesser amount falling in his hand. So he wonders, “Where did that other money go?”
CTC Full Form – Additional Information
CTC means Cost To Company and in simple terms, it means the expenses incurred by the employees work tenure by the employer that is the company. Thus, a CTC shows the amount of money the company is willing to spend annually on the employee to retain his services. There are many factors added to come to a final CTC figure. The employee has a base salary to which the company adds benefits and perks. These include the dearness allowance, medical allowance, house rent allowance, health insurance, entertainment and conveyance allowance and the company’s contribution towards the provident fund. Other things that may be added to the CTC are the performance bonus as well as overtime allowance.
Apart from the basic salary of the employee, these are the different perks given by the company and thus, they are termed as “Cost to Company”. The CTC can be manipulated by the employee for his benefit by converting many indirect allowances to direct allowance. We will talk about this in detail later. But it is necessary to understand that cost to the company and take home salary do not mean the same thing and a person seeking a job should learn this difference before accepting the post.
Difference between take home salary and CTC
As mentioned earlier, CTC is the total of all the benefits added to your basic salary to give a gross salary and then adding the company’s contribution towards the provident fund, thus giving the final cost to the company. Many of the above-mentioned components that contribute towards building the CTC (various allowances, bonuses, etc) are taxable and there is income as well as professional tax to be cut. Therefore, what you get in your hand after calculating all the deductions and taxes is the “Take Home Salary” or the Net Salary.
A person’s pay slip always gives the details about the breakup of funds and explains at a glance your income and your deductions to give a net amount that you are entitled to take home that month. Amongst the deductions are also considered the pay cuts on account of unpaid leaves or loan taken from the company, as the EMI is deducted from the monthly pay and finally, the employee’s contribution towards the provident fund. Thus, as we can see, CTC gives a wider picture of the expenses incurred during the year on a particular employee and the Net Salary is the money the employee gets per month after all the possible deductions have been made.
How to alter CTC for your benefit?
After the selection process but before your confirmation of accepting the job, it does not hurt to sit across with the HR personnel and negotiate on few components of the CTC so that they are more beneficial to you. Some examples where you can alter the scene to your advantage are:
- Instead of subsidized meal in the company, you can ask for food allowance. Here, the first option is indirect benefit whereas getting food allowance is a direct benefit.
- Many companies offer to pick up and drop facility to employees. Even though it seems wonderful, a conveyance allowance is more profitable because there are tax benefits on that.
- When the company takes the insurance policy for an employee, its premiums are included in CTC. To overcome this component’s disadvantage you can request for medical reimbursement instead as this demand makes more sense as you stand to save some amount on medical expenses. No doubt, there is an upper limit cap on such allowances, but still they stand to our advantage.
- Try and get as many direct benefits as possible and circumvent all the facilities that may seem rosy but may not be beneficial as far as adding cash to your package is concerned.
The motive behind good pay package
This is a competitive world. There are many skilled persons out there who seek a decent and profitable job. After all, a person works to earn a living and in today’s world of inflation and skyrocketing expenses, the bigger the pay package the better. Some sectors of businesses have a constant need for manpower and getting a right candidate for the job is the perfect skill of HR department. After receiving applications for the job, it is essential to short-list the candidates for final selection. It is at this juncture when the HR personnel decides on a pay scale for the prospective employee after consultation with the management.
It is a tendency that where ever you find greener pastures, you are tempted to graze there. Similarly, any company that offers good perks and package is obviously attractive to the employee. Considering this, the companies throw open many allowances and benefits to lure the candidate. The more the number of allowances and benefits, the fatter the pay package looks. Another idea behind a good CTC is that knowing that the company is well paying encourages the person to work there for a long time. On the other hand, we get to see that people who take up a low paying job are soon seen job hopping in favor of additional benefits.
Analyze before you accept
On a final note, one can say that when you apply for a job, look at the company’s policies and understand them well. Find out what is beneficial for you and get it changed in the salary structure. First and foremost, understand that costs to the company and net salary are two totally different things and the CTC is a bigger amount taking into consideration the addition of all allowances. On the other hand, the take home salary may seem a smaller amount on account of deduction of taxes, etc.
CTC is the total annual expense of an employee by a company. Whereas the net salary is the amount entitled to be carried home after various cuts on a monthly basis. Study all these factors carefully before you take up a job and then there will be no further confusion about CTC and take home money. After all, the net pay is your actual earning and CTC is a projected image of your annual earnings, albeit without calculating any deductions. So the next time the pay slip falls in your hand, you know exactly “where that extra money goes”.
CTC Full Form: Community Technology Center
Full Form of CTC stands for Community Technology Center. It is a facility which offers low-cost or free computer access through training; to people who lack resources of computers at home. Most often, such facilities are typically established through the combined effort of non-profit and government organizations; private citizens; or corporate. There are more than thousands of Community Technology Center facilities all over the world that offer training that range from the very basic computing skills to various applied skills and up to digital media production. Some CTCs are located in public schools, libraries, neighborhood centers, religious and social service centers; and some operate as freestanding units.
Typical features of CTC include; establishment in a neighborhood with low-income; access to inexpensive or free computer; training and resources geared to take care of the needs of the community; as well as community input in administration and activities of the center.
Community Technology Center programs boost the self-sufficiency of residents, increase their talents and skills and help them to participate in civic and community affairs. CTC programs also contribute to the increased consumers of IT products and services. CTC network believes that regardless of religion, social status, and race, every citizen must have equal rights in accessing technology and learn the required skills.
Full Form of CTC: City Technology College
CTC Full Form refers to City Technology College. It is typically a state-funded secondary school, which offers free or no fees secondary or technical education to students. CTCs fall under the direct supervision of the Department of Education and are independent of the local authority. In England, CTC program was initiated by the government under Education Reform Act 1988 in the end of 80s, and colleges opened towards the end of 80s and early 1990. Almost 1/5th of the total costs are taken care by private sponsors who at times are owners of the CTC buildings.
CTCs undertake National Curriculum but focus on technology based subjects, mathematics, and science. Like any other accredited school, these are inspected on a regular basis by the OSE or Office of Standard of Education. Since CTCs have a close association with industries and businesses through their sponsors, often, directors and governs of the companies and organizations provide solid support.
The main objective of CTC was to revive education within cities but the local authorities hampered it by refusing to provide required school sites. Later, the government stepped up to designate some of the existing schools to be technology colleges. Currently, the CTC system of operation is being found in some of the major cities all over the world.
CTC Full Form: Closed Timelike Curve
Full Form of CTC refers to Closed Timelike Curve. Most often referred to as CTC, the Closed Timelike Curve is the theoretical solution for the ‘theory of general relativity’ and its field equations. In other words, CTC is the mathematical result of a physics equation, which allows time travel. The main factor about CTC is that it is assumed that the world line of an object that follows the curve does not change as the resultant effect of the curvy path it follows. Though CTC might theoretically allow time travel, instinctively it appears to be paradoxical.
Willem Jacob Van Stockum forecast the first CTC in 1937 and mathematician Kurt Godel further elaborated this in 1949. There were several controversies about the possibilities of time travel with Stephen Hawking supporting the possibility. CTCs place certain restrictions on the physical states of the fields of matter-energy in the universe. CTCs have the most controversial features in the modern physics.
Several stories, books, and TV serials were created. Some of the popular ones include Robert A. Heinlein’s ‘All You Zombies’, TV series ‘Lost’, etc. Nevertheless, CTCs is typically the only form of traveling backward in time, which corresponds to the rules of the general relativity theory. Various attempts that try to be scientifically accurate incorporate this approach.
Full Form of CTC: Centralized Traffic Control
CTC Full Form stands for Centralized Traffic Control. It is a type of railway signaling, which began in North America. Centralized Traffic Control consolidates the decisions related to train routes, where were earlier executed by the local signal operators or train crews. The most distinctive feature of CTC is the control panel that has a graphical portray of the entire railroad, which is designated at the territory of CTC. This panel helps dispatchers to keep a constant track of all locations and trains across the territory each one of them is assigned.
However, the dispatcher does not control all the signals. The dispatcher typically controls only signals that do not have a number plate and are comprised of 2 or 3 units signals. These signals are commonly called as arms. Signals that have number plates (Intermediate signals) are normally automatically operated within CTC system.
The cost of building CTC track is significantly higher than the non-signaled track, as the cost of failsafe and electronics are considerably higher. Very few railroads rely on the conventional method of manual controls and electronic light displays for controlling the train traffic. Modern day railroads are ruled by computer-controlled machines, which are certainly safer and smart options to avoid accidents.
CTC Full Form: California Commission on Teacher Credentialing
Full Form of CTC stands for California Commission on Teacher Credentialing. It is an individualistic agency, which was established in 1970 and is also the oldest of the independent boards of in the U.S. California Commission on Teacher Credentialing comprises of 15 voting members along with 4 non-voting members who are otherwise called ex officio. The Ex-officio member is chosen by the main elements of higher education constituency of California such as Association of Independent California Colleges; California State University; Regents of the University of California; and Chancellor’s office of California Community College.
The main objective of CTC is to educate, protect, and inspire students in California. It also envisions students of all levels would be able to maximize their potential through appropriate support from a well-qualified workforce of educators.
CTC has the mission to ensure relevance, high quality, and integrity in all aspects of certification, preparation, and discipline in educators who serve the students all over California. The commissioners who are Governor-appointed comprise of six classroom teachers, one school board member, one school administrator, one higher education faculty, and one credential holder along with four public members. Commissioners are appointed to 4-year terms and they serve as unpaid volunteers.
Full Form of CTC: Cyclists’ Touring Club
CTC Full Form refers to Cyclists’ Touring Club. Universally popular as CTC, the Cyclists’ Touring Club is a charitable organization, which supports and promotes the use of bicycles. It was initially established in the name of ‘Bicycle Touring Club’ in 1978, which was eventually renamed as Cyclists’ Touring Club. The organization is the forerunner of a global network of motoring, cycling, and tourism organizations, most who grounded their services on CTCs. It is the largest of its kind in the United Kingdom, which works both at the local and national level for all needs of cyclists. It offers various services to the members including organizing local groups for recreational cycling and local activism.
Newsreader Jon Snow has been the president of CTC since January 2007. Some of the objectives of CTC are to promote amateur cycling sport; cycle touring; protect and preserve safety and health of public by facilitating and encouraging safety of cycling; educating the members regarding cycling and training them on related activities.
Currently, the National Cyclists Organization in the UK promotes cycling and had over 70,000 members in the year 2013. The success stories of CTC have been setting standards to create awareness about the best practices in a cycle-friendly design infrastructure. CTCs are organized at the district level with several rides on the weekends and during the weeks. In 2008, CTC Charitable Trust had launched Cycle Champions Program. ‘Cycle’ is the magazine run by the members of CTC, which includes all kinds of new and reports as well as technical advice and product reviews.
CTC Full Form: Circulating Tumor Cells
Full Form of CTC stands for Circulating Tumor Cells. Any cancerous tumor consists of billions of cells that harbor genetic mutations (modifications), which drive them to divide, grow, and invade in the tissue where they are situated or embedded. Nevertheless, as the cells keep multiplying, during the process, some cells get washed away into the blood stream. These are called as Circulating Tumor Cells. Typically, CTCs can travel together in the blood stream and lodge in new tissues in other areas of the body. However, the CTCs have the information of the tumor that is important to the diagnosis and treatment process.
CTCs were first observed by Thomas Ashworth, in the year 1869 in a man who had metastatic cancer. He suggested that these cells that are seen in the blood are identical to the tumor cells and hence could help to identify the cause of cancer or tumor in the body. He further studied and compared the floating cells to the original tumor cells to conclude that they are a part of the cancer cells which detach themselves from the point of origin and mix in the circulatory system.
Since tissue biopsies are invasive, ineffective in revealing the metastatic risk, and cannot be often repeated, CTCs are considered to be the ‘liquid biopsy’, which can provide live information about the disease condition. Variations in CTCs include; Cytokeratin negative CTC; traditional CTC; Apoptotic CTC; small CTC; and CTC clusters.
Full Form of CTC: Chiba Television Broadcasting Corporation
CTC Full Form refers to Chiba Television Broadcasting Corporation. It is Japanese Commercial Terrestrial Television Broadcasting Company, which is headquartered in Chiba. Chiba Television Broadcasting Corporation is also a member of the JAITS or Japanese Association of Independent Television Stations. It was founded on January 28, 1970, and the broadcast officially began on May 1, 1971. The digital broadcast officially started on April 1, 2006. President Ueda Seiya serves as the representative and CTC has its headquarters in Chiba City Chuo-ku, Tokyo-cho.
The core business involves in core broadcasting as per the Broadcasting Act; broadcasting time of sale; advertising agency; sound recording; publishing; photography; etc. The programs of CTC range from news to sports to variety of programs that interest the viewers.
CTC Full Form: Central Texas College
Full Form of CTC stands for Central Texas College. It is a community college located in Killeen, Texas. CTC was founded in the year 1965 and has numerous branches all over the world. It was basically established by Central Texas citizens to serve the Bell County in Texas. CTC has evolved from what was a junior college to a huge community college, serving the military. Various degrees offered by CTC include; Associate of science; Associate of Art; Associate of Arts in General Studies; and over 40 certificate programs.
The main campus is at Killeen, in which there is a memorial statue of Lyndon Baines Johnson along with a fountain in the central courtyard. There are also metal makers that indicate the boundary between Coryell Coryell Counties and Bell. The main library of CTC is named as Oveta Culp Hobby and the building imitates the style of Colonial Revival of Spain.
CTC has been operating with the purpose and mission of supporting students on their success and career establishment. The institution also has the vision to fulfill all requirements of the global community by engaging innovative education system. It is also a home to a lovely music station of KNCT-FM and KNCT Television – PBS station.