How can I calculate my take home salary in India?
In any official set up, an employer pays the employees a pre determined amount towards their services , at the end of the month. This payment is known as salary or pay. This amount is generally stated in the appointment letter or contract and mentioned in the payslips of the employee accordingly. The pay or salary has various components and each of these can vary across different employers. Salary or pay forms part of an employee’s annual income and therefore they are liable to pay taxes towards it. Hence, the amount which an employer pays to the employee in gross is different from what the employee actually gets in hand or takes home at the end of the month. Here, we are going discuss about the take-home salary and how a take home salary calculator can help the employees in determining the salary which the employee will actually get in hand. For that first of all we need to understand the different components of the salary. Understanding the various components of the salary Followin