Question on CTC, basic salary and deductions

[Archer]

This years annual raise has got me confused, mostly because the CTC on my raise letter is not the same as whats on my payslip

So on the letter they state the basic salary, UIF, SDL, some life cover thing and medical. All of that is on the payslip too, so far so good. BUT... on the letter, basic salary + everything else = CTC (thats my understanding of CTC). On my payslip my CTC = basic salary. All deductions are taken off my basic salary which doesnt seem right. Whats going on, am I really dumb at accounting type stuff or what?

 

[cerebus]

Ah accountants

 

[Pitbull]

CTC means everything they pay you. So if they pay a portion or all of those benefits then it will be included in the CTC if you pay 100% on medical, life policy and so on then no, it won't be included in the CTC.

 

[Archer]

Well the company is meant to pay for all the deductions listed. So I guess today I'll find out how "official" the increase letter is, and if they'll stick to it or give me a story about it being some kind of error