We have taken 40% of gross pay as basic salary for PF calculation. We made only mandatory PF deductions. We have calculated employee insurance premium for an assured amount of Rs 5 lakh. The users either can edit the existing deductions, or they can enter the additional deductions. We...
Method 2 – Calculation of Basic Salary Using CTC We have a dataset of CTC for the employees and the Basic Salary percentage of CTC. We want to calculate the Basic Salary from this percentage. Steps: Enter the following formula to the cell where you want to get your desired output: =C5...
CTC is calculated by adding the employer’s contribution for PF and Gratuity to the Gross Salary. Automate salary calculation Salary Breakup Calculation Example Let’s consider an annual CTC of Rs. 3,60,000. For this the salary breakup structure will look like this: Salary Components Calculation...
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Step 4:Now the gross salary of the employee is CTC – (PF + gratuity paid by employer) (note: add any other expenses given by the employer) Total Earnings Calculation Step 5:Now calculate the HRA of employees, 40% of the basic wage for employees in nonmetro cities and 50% for employe...
- Basic Salary: A part of the CTC which is completely taxable. - Select Tax Regime: Choose your In-Hand Salary Calculation according to the tax regime you prefer (New vs. Old). Step 2: Submit Your Details After entering the necessary information, click on the 'Calculate' button...
You will see the CTC amount, tax for the whole 12 months, and sample salary slips along with complete tax calculation. How do you calculate monthly take home salary? Take-home pay (known as in-hand salary in India) is the net salary after deducting income tax (TDS – tax deducted at ...
Go to the “TDS tab” for the calculation of the salary including tax calculation Various relevant forms and deduction fields are given. Step 5: Go to the “Report” tab -> “salary report” -> “Payslip generation” Users can edit, and modify the information as per requirements. Step 6...
Calculation of Take Home Salary Takeaway Simplify salary calculations now What are you waiting for? Difference between Cost to Company (CTC) and Take Home Salary The total salary matrix consists of a laundry list of entries to which different amounts from the whole are apportioned. Some of these...