Salary Calculator Results
Understanding Your CTC
Cost to Company (CTC) is the total amount your employer spends on you annually, including all benefits and contributions.
Your take-home salary will be lower than your CTC due to various deductions and the fact that some components are non-monetary benefits.
What is Basic Salary?
Basic salary is the fixed amount paid before any additional allowances or deductions. It typically forms 40-50% of your CTC and is the base for calculating various other components.
Understanding HRA
House Rent Allowance (HRA) is a component of salary that an employer provides to employees to meet their rental expenses. It's typically 40-50% of basic salary for metro cities.
Tax Benefits
Components like HRA, LTA, and EPF contributions can help reduce your taxable income. Consult a tax professional to understand how to maximize your tax benefits.
Standard Deduction
Standard deduction is a flat amount that reduces your taxable income:
- Old Tax Regime: ₹50,000 per year
- New Tax Regime: ₹75,000 per year
Important Note
This calculator provides estimates based on standard deductions and tax rates. Actual figures may vary based on your specific situation, tax regime choice, and company policies.