Watch this video to know all about CTC, Gross Salary and your in-hand or net salary. Hope we are able to explain the difference betweenSalary, Net Salary, Gross Salary, Cost to Company.Did you find the information useful? If you find some information missing or incorrect please let us kn...
What is the difference between gross and net income? The difference between gross and net income boils down to the difference between what you bring in (gross income) and what you get to keep for spending (net income). Why does knowing the difference between gross vs. net income...
Gross Salary: The salary that shows on your income statement excluding all deductions such as Income Tax. CTC: The cost to the company for maintaining that employee. Here is where the company-provided benefits like Health Insurance are included. 4. Difference between salary and wages The followin...
Gross Salary = Basic Salary + Allowances + Perquisites + Fees, Commission and Bonus + Variable Pay+ Retirement Benefits (EPF/NPS) Net Salary = Gross Salary – Tax(Income Tax, Professional Tax) CTC = Net Salary + Indirect Benefits( Food coupons, Interest Free Loans) Sundar Pichai, CEO of ...
The main difference between gross salary and ctc is that gross salary is the amount received by the employee, as per his contribution, while CTC is the total amount incurred by the company on an employee during a financial year.
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However, unlike FICA taxes, which are evenly split between the employer and employee (7.65% each), self-employed people have to pay the full 15.3% of the self-employment tax. There are some provisions that lower the self-employment tax. For instance, 7.65% of your net...