ET triggered it for me. “MNCs pretty well know the youth has a special weakness for money……MNC’s compromise their hiring standards to lure talent…blah…blah...”
Nevertheless, this has what caught my attention “a Delhi-based firm includes the EMIs it pays for the laptop (provided to the employee) in the CTC..”
The victims won’t find it strange atleast.
I was first introduced to the concept of CTC (the well used but most abused HR term) when I got my first offer letter which included the PF contribution by the employer in my gross salary. In a way it seems reasonable, for whatever the employer contributes, is subject to our control. I am not fully convinced about it though. I could never imagine the extrapolation of this inclusion. There are several other inclusions which I know, you may don’t and vice versa. Interest subsidies for the loans availed, premium on life insurance/mediclaim policies, fees for club memberships, telephone, internet, blackberry bill reimbursements, credit cards, servants, gardeners, chaffeur, electcitity, gas, water et al. These are ofcourse, luxury, if we are given free of cost (read: without inclusion in CTC).
Those days are not far where you would find included in your so-called CTC the company’s monthly electricity bill, stationery cost (eraser included), tea/coffee/mineral water (don’t forget those extra sugar cubes) all those toileteries (including those toilet rolls which you seldom use), salaries of security guards (they are protecting you, right) and the maintainance staff. Also, if you are a techie, you won’t realise that you might have developed a software, sometime ago, for the company which it has now wisely used to allocate those shared expenses (like electcrity bill, etc) to the employees on a pro-rata basis. And if you are into testing, you might probably be testing the same software and fixing bugs. A faultless highway-robbery
Why MNCs rate themselves and popularise these as ‘benefits’ extended to the employees despite their inclusion in the employees’ CTC, and fuelling the fire by labelling themselves as employee-centric is a question still to be answered properly. ….
Realise that you are funding for yourself by working your own a** out.