If you don't understand what CTC is, you could be in for a nasty surprise.
Christine Marincowitz, a spokesperson and head of investor relations at financial services company Ecsponent, says that while you must know what you are getting in your pocket at the end of the month before accepting a job, understanding your total CTC before you accept a new job is just as important.
For example, if company A offers a net monthly salary, after tax, of R20,991 and company B R20,683, then company A will give you around R300 a month more in your pocket. Company B on the other hand, contributes 10% of the basic earnings to a retirement fund, which is tax deductible."So, while you are receiving a few hundred rand less in your pocket, this offer's cost-to-company is over R313,000 a year, or more than R1,000 per month higher than the offer from company A."
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