Take Home Pay Calculator

Use In Hand salary calculator to find your Take Home Salary from the total CTC. Take home pay is also referred as Net salary. It refers to the salary that an employee takes home once after the deduction of employment taxes, cost of benefits and other retirement contributions. It is calculated by taking the monthly gross income and subtracting various other taxes. To find your monthly take home salary, enter the cost to company (CTC) and basic salary in Take Home Pay Calculator.

In Hand Salary Calculator

Use In Hand salary calculator to find your Take Home Salary from the total CTC. Take home pay is also referred as Net salary. It refers to the salary that an employee takes home once after the deduction of employment taxes, cost of benefits and other retirement contributions. It is calculated by taking the monthly gross income and subtracting various other taxes. To find your monthly take home salary, enter the cost to company (CTC) and basic salary in Take Home Pay Calculator.

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Formula:

h = ( c - ( b × 12 ×0.12 ) - ( b × 12 × 0.0481 ) ) - (b × r) / 100 - ( b × 12 ×0.12 ) - p y=h / 12 Where, h =Yearly Take Home Salary y = Monthly Take Home Salary c = Yearly Cost to Company b = Monthly Basic Salary p = Professional Tax r=tax rate

Example:

Find the Inhand Salary of an employee if his CTC is Rs 12,000, Basic salary is Rs.66 and the yearly professional tax is Rs.250?

Solution:

Yearly Take Home Pay = ( 12000 - ( 66× 12 ×0.12 ) - ( 66 × 12 × 0.0481 ) ) -( 66 × 0/100 )- ( 66 × 12×0.12 )-250
= 11521.82 ₹
Monthly Take Home Pay =11521.82 /12
= 960.15 ₹


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