ctc to in-hand salary calculator

How to calculate CTC from basic salary DescriptionComponent of Salary (Per Annum)AmountMedical Reimbursements15,000Gross Salary6,75,000Benefits vary from company to companyMedical Insurance2000Provident Fund (12% of Basic)57,600 (12% of 4,80,000)What is CTC in Salary and How is Basic Calculated? – SumoPayroll www.sumopayroll.com › blog › ctc-salary-basic-calculated

What is the formula for salary calculation? Take Home Salary = Gross Salary – Income Tax – Employee’s PF Contribution(PF) – Prof. Tax . Gross Salary = Cost to Company (CTC) – Employer’s PF Contribution (EPF) – Gratuity. Gratuity = (Basic salary + Dearness allowance) × 15/26 × No. of Years of Service.

Net Salary = Gross salary – All deductions like income tax, pension, professional tax, etc . Net salary is also referred to as Take Home Salary.