Cost to Company (CTC) is a term commonly used in the context of employment and human resources to refer to the total cost incurred by an employer in hiring and employing an individual. It represents the overall financial commitment made by the employer for an employee's compensation and benefits.
Here are key points to understand about CTC:
Understanding the CTC helps employees and employers have a clear understanding of the complete compensation package and the financial commitment associated with employment. It helps employees assess the value of their total compensation and provides employers with a comprehensive view of the costs associated with hiring and retaining talent.
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