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.
Read moreWhat is the CTC for 15000 salary?
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
Read moreHow net salary is calculated India?
Net Salary = Gross salary – All deductions like income tax, pension, professional tax, etc . Net salary is also referred to as Take Home Salary.
Read more