In India and some other countries likeSouth Africa and Pakistan CTC is used widely by the different group ofcompanies. This is a term related to salary. Salary is a base on whichcompanies hire different employees to work for them and perform importanttasks. Every company gives a salary to their employees according to the postand also gives some other benefits in addition to the salary. The use of thefull form of CTC is very less instead only abbreviation is used everywhere. Inthis article, I will tell you about the different full forms of CTC and thelittle explanation about this term.
Information about the Full form of CTC
Cost To Company
The full form of CTC which is widely used is Cost To Company. It is a total cost bear by the company to hire any employee or in some places, the definition of Cost to company is different like it is an annual expense spends by the company on a single employee. In India and South Africa, this term is quite popular and companies used this term to estimate the annual expenses spend by the company the single employee. Cost To company can be calculated by the addition of total salary in a year and other expenses of the employee during the period of one year like insurance given by the company, house rents, car fuels and other such expenses. The amount of CTC cannot be directly received by any employee. You can understand the CTC by the following example. If an employee got the 50,000 rupees (Currency of India) per month and other expenses of that employee are 5000 rupees than the cost to company will be 55000 rupees. Cost to Company includes many other components besides salary, pension, health care, travel, entertainment and housing.
Tax is also charged from the cash amount received by the employee directly. This term is used by the companies to reflect that it is the incremental spend on an employee during a year. Now we look this term from another perspective like the entire amount which would not be spent if the number of employees reduced by one. The costs such as cost of facility, cost of management, IT, HR and cost of other support teams are not included in the CTC. In this Cost to company term, the amount which is not directly linked to the employee will not be the part of CTC. If a company gives a bonus for the excellent performance of the employee at the end of the year then it will also include in the Cost To Company. Different companies pay different percentages of the bonuses with the comparison of the salary like by some companies 50% percentage bonuses are available for the employees on the excellent performances at the end of the year.
Chennai Trekking Club
It is another full form of CTC used in India. It is a trekking non-profit organization whose member meets at the weekends for the outdoor activities, social responsibilities and environmental education. This club of people developed in the year 2008 by the small group of enthusiasts of Chennai India. In the starting, it is composed on the small group of people of the computer Industry but later on, it is developed into 10,000 members. This club organizes 2 to 3 treks on the weekends in South India. It is also involved in organizing the activities for the disadvantaged people like short treks and walks for charity, tour on nature photography, One-day hikes by using GPS and also doing some survival skills activities. This club introduced more than 300 treks each month and includes 500 members in their club every month. If we look in the history of this club then first time in the February 2008 some people found 10 treks and upload their journey photos on their blog and wish to join the more people in their group and after that many people joined them as a member. There are several destinations which were undertaken by the active members of this club. The heads of the club decide the treks for the deciding weeks and inform all other members for the activities.
Canadian Tourism Commission
This full form of CTC is used in Canada as Canadian Tourism Commission. This commission of tourism was developed in 1965 by the Canadian government to promote Tourism in Canada. It a type of corporation completely controlled by the Canadian government and reports to the Minister of Small Business and Tourism. It promotes tourism in Canada as most beautiful places to attract the tourists from around the world. This corporation also claims that it is an efficient source of tourism knowledge and expertise related to tourism. This corporation has a great impact on the economy of Canada because the profits gained by this corporation directly go to the government banks. It develops its marketing campaigns in the different countries of world like Australia, India, Brazil, Germany, China, Japan, Mexico, United States, United Kingdom and South Korea. This corporation is headed by the 10 people who are involved in every decision making strategy for this organization.
Community Technology Center
A technology center is a community place for the public for developing the technology skills related to computer. These centers are available in different countries like United States, Denmark and some other parts of the world. In these places, people can access the internet, computers and other digital technologies which are developed in the world and people can learn, create and communicate with the people and develop efficient skills in the field of technology. These are the social telecentre where everyone can get the knowledge of technology by doing practical. Every center like this has different functions like some develop only digital skills while some develop digital, social, educational and economic subjects. There are many types of such centers with respect to the functions and responsibilities. Some are the NGOs sponsored centers, some are school-based centers, some are the governmental centers and some are the university-based centers.