To calculate an annual salary, multiply the gross pay (before tax deductions) by the number of pay periods per year . For example, if an employee earns $1,500 per week, the individual’s annual income would be 1,500 x 52 = $78,000.
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The basic pay is usually 40% of gross income or 50% of an individual’s CTC. Basic salary = Gross pay- total allowances (medical insurance, HRA, DA, conveyance, etc.)
Read moreHow do I know how much I should be getting paid?
6 ways to figure out how much you should be getting paid—before negotiating your salary or a raise
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