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Our smart salary calculator helps you estimate your net monthly in-hand salary showing you exactly what you’ll receive after deductions like tax, EPF, and special allowance.
A salary calculator is an online tool that can help employees and jobseekers determine their net take-home salary after taking into consideration all eligible deductions. By entering certain details, such as Cost to Company (CTC), bonuses, PF contributions, HRA, and other deductions, the salary calculator instantly calculates the in-hand salary. It is also known by the name take-home salary calculator or in-hand salary calculator. The tool helps to understand total monthly and annual deductions, net income, and also assists with financial planning and budgeting.
Your salary consists of multiple components; each component can affect your take-home pay differently. Before you calculate your salary using the take-home salary calculator, you should have a clear idea of what each component is.
Unless you know these elements, you may not be able to do effective financial planning. For example, you may be budgeting as per your net salary (CTC). But this may leave significant gaps as your take-home amount may be significantly lower. This can upset your planning.
Understanding these components is also important when it comes to calculating your tax liabilities. You may be thinking about how to save tax for salary above ₹20 lakhs. However, effective tax planning is best done when you know all the components. For example, you may not know how to save tax for salary above ₹20 lakhs, or which components are tax-exempt. But if you use an income tax calculator where you input details such as HRA, it may help you take better decisions in your tax planning.
How do Retirement Calculators work?
IndiaFirst Life offers an easy-to-use in-hand salary calculator.
A salary calculator is a useful tool that can help employees and job seekers understand their true earnings.
The main components of a regular salary structure will include:
Basic Salary
HRA
Leave Travel Allowance (LTA)
Special Allowances
Employer/Employee PF contributions (12% of basic salary)
Professional Tax (maximum ₹2,500 a year)
and Performance Bonuses.
There might be additional aspects depending on the role type and organisation.
Basic Salary = Gross Salary - Allowances (+ Bonuses)
The basic salary is around 35-50% of the CTC. For example, if CTC is ₹10L with 40% basic salary structure, your annual basic pay would be ₹4,00,000.
CTC is the total annual compensation package and includes salary, bonuses, PF, gratuity, and other benefits. It represents the employer's total spending on an employee before any deductions.
CTC is the total annual package. It includes the basic salary, benefits, employer PF, gratuity, and more. The take-home salary is the net amount credited to your bank after deducting TDS, EPF, professional tax, and any other similar deductions. For example, a ₹10L CTC may yield ₹70-75K monthly in-hand after ₹1.5L annual deductions. CTC includes non-cash components, such as insurance, while take-home salary reflects actual income that you can use as per your needs.
To get a clear idea of your take-home salary, you can use an in-hand salary calculator. Enter the deductions relevant to your salary structure and get estimates within seconds.
Basic salary typically ranges from 35% to 50% of your total CTC. The exact percentage depends on company policy and job role. It is a fixed component.
You can check your salary slip for detailed components.
The earnings section will include: Basic salary, HRA, Allowances, and Bonuses.
The deductions will include: PF (Employee + Employer), PT, and TDS.
Preferably, use a salary calculator by inputting your CTC and deductions to simulate the breakdown.
A salary calculator is a digital tool that computes your take-home pay by subtracting EPF, professional tax, bonuses, and other deductions from your CTC. It provides a clear breakdown of monthly/annual in-hand salary and helps compare job offers, plan finances, and optimise tax savings. It is also called an in-hand salary calculator or CTC calculator, as it allows you to get an overview of your CTC and its breakdown into various components.
To use the salary calculator, you need your Cost to Company (CTC), bonus amount, monthly deductions (professional tax, EPF contributions), and allowances (HRA, LTA). Some take-home salary calculators may also ask for other inputs. Make sure to have your salary slip handy to enter accurate inputs and get precise take-home salary calculations.
No, the CTC calculator usually does not factor in tax deductions. Some calculators may have an option to enter tax-deductible investments, along with other deductions, and may provide the results accordingly. An alternative option is to use a salary tax calculator, in order to get estimates with tax deductions in mind.
Yes. Most salary calculator tools from reliable sites will be updated with rules that will be in accordance with the latest financial year.
Some calculators may not allow you to switch between tax regimes. Most salary calculators will not consider tax deductions at all when calculating your in-hand salary. It is best to use another financial calculator, such as the income tax calculator, to get estimates of your non-taxable income, regardless of the regime.
Typically, it is a payment made by employers after an employee has completed more than five years of continuous service. It is calculated as: (15 × Last drawn salary × Years served)/26.
An employee receives gratuity in a lump-sum if they have completed five years in an organisation’s service. There could be certain exceptions (such as when the employee passes away, gets disabled or becomes ill) where the gratuity may be paid out even before the completion of five years.
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