In a nutshell, Net Salary = Basic Salary + Allowances – Income Tax/ TDS – Employer’s Provident Fund – Professional Tax . Add the allowances to the basic salary and you arrive at the gross salary. This amount is calculated before the application of taxes and other deductions.
Read moreWhat is breakup in CTC?
It includes benefits, such as statutory bonuses,allowances and administrative expenditure other than the employee’s gross salary . The total CTC need not be the actual salary in hand at the end of the month. CTC breakup includes various components like: Fixed salary.
Read moreHow should I structure my salary?
This article contains some simple tips to help you structure your salary and reap the maximum advantage.
Read moreWhat is the salary structure in India?
Salary Structure in India: All You Need to Know 2020-21 Fixed Salary ComponentCTC (Up to 5 Lakhs)CTC (Above 10 Lakhs)BasicTaxable (40% of CTC) or set minimum wageTaxable (40% of CTC)HRATaxable (50% of Basic)Taxable (50% of Basic)Education Allowance200 Fixed200 FixedLTA15% of Taxable15% of TaxableRevised Salary Structure in India – All You Need to Know for Pay … www.techjockey.com › blog › new-salary-structure-in-india
Read moreWhat is the pay structure?
A pay structure can be defined as a collection of wage grades, bands or levels that link related jobs within a hierarchy or series .
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