#salarycalulator

In-Hand Salary Calculator: Know Your Take-Home Pay Effortlessly

Description:

Take-Home Salary is the amount an employee receives after all mandatory deductions such as PF, ESIC, and LWF are subtracted from the gross salary. Understanding your in-hand salary is crucial for financial planning, and our In-Hand Salary Calculator makes this process simple and accurate.

How is In-Hand Salary Calculated?

The formula used in our calculator is:

Take-home salary = Gross salary - (PF Contribution + LWF + ESIC [if applicable])

Key Salary Components Explained:

Basic Salary: Typically 50% of the Cost to Company (CTC).

House Rent Allowance (HRA): 40% of the basic salary.

Labour Welfare Fund (LWF):

Haryana: ₹50 (Employer) + ₹25 (Employee) = ₹75

Delhi: ₹2.25 (Employer) + ₹0.75 (Employee) = ₹3

Karnataka: ₹40 (Employer) + ₹20 (Employee) = ₹60

Gross Salary: Sum of Basic Salary, HRA, and Allowances/Bonuses.

Provident Fund (PF):

12% of basic salary if the basic salary is less than ₹15,000.

A fixed deduction of ₹1,800 for salaries greater than ₹15,000.

Employee State Insurance Corporation (ESIC):

Employees earning ₹21,000 or less are liable for ESIC.

Employer contributes 3.25% of CTC, while the employee contributes 0.75%.

With our In-Hand Salary Calculator, you can instantly compute your net salary and make better financial decisions.