Understand Your Salary Components & Taxation
Gross Salary / CTC: Total cost to company including salary, allowances, bonuses, and benefits.
Basic Salary: Core component used for PF calculation and other benefits.
HRA (House Rent Allowance): Tax-exempt if living in a rented house.
LTA (Leave Travel Allowance): Tax-free travel within India under certain conditions.
Bonus: Performance or annual bonus included in salary.
Other Allowances: Medical, conveyance, or incentive allowances.
Provident Fund (PF): Mandatory retirement contribution, usually 12% of basic.
Professional Tax (PT): State-mandated monthly deduction.
Income Tax: Tax calculated on taxable income (gross - PF - exemptions) based on your tax slab.
This calculator estimates take-home salary, helping you compare offers and plan budgets efficiently.