Salary Calculator
Calculate your take-home salary after taxes and deductions. Get detailed breakdown of your net salary for better financial planning and budgeting.
Salary Calculator
12% of basic salary (capped at ₹21,600/year)
Insurance, loans, voluntary deductions
What is a Salary Calculator?
A salary calculator is a financial tool that helps you determine your take-home salary (net salary) after deducting taxes, provident fund, insurance, and other statutory deductions from your gross salary. It provides a clear breakdown of all deductions and helps you understand exactly how much money you'll receive in your bank account.
Our salary calculator considers various factors including income tax slabs, professional tax, EPF contributions, and other deductions to give you an accurate estimate of your net salary. This helps in better financial planning and budgeting.
How Salary Calculation Works
Salary Components:
- 1Basic Salary: Usually 40-50% of gross salary
- 2HRA: House Rent Allowance (usually 40-50% of basic)
- 3Allowances: Special, transport, medical allowances
- 4Variable Pay: Bonus, incentives, overtime
Common Deductions:
- -Income Tax (TDS): Based on tax slabs
- -EPF: 12% of basic salary (employee contribution)
- -Professional Tax: State-specific (₹200-2500/year)
- -Other: Insurance, loans, voluntary deductions
Income Tax Slabs (FY 2024-25)
Old Tax Regime:
| Income Range | Tax Rate |
|---|---|
| Up to ₹2.5L | 0% |
| ₹2.5L - ₹5L | 5% |
| ₹5L - ₹10L | 20% |
| Above ₹10L | 30% |
New Tax Regime:
| Income Range | Tax Rate |
|---|---|
| Up to ₹3L | 0% |
| ₹3L - ₹6L | 5% |
| ₹6L - ₹9L | 10% |
| ₹9L - ₹12L | 15% |
| ₹12L - ₹15L | 20% |
| Above ₹15L | 30% |