Salary Calculator
Calculate your take-home pay after taxes and deductions.
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Understanding Your Salary
Your salary is more than just the number on your employment contract. Your 'take-home' or net pay is what you actually receive after all deductions are made. This calculator helps you see a clear breakdown of your earnings based on your gross salary, pay frequency, and common deductions like taxes and retirement contributions. Use it to better understand your payslip, plan your budget, and compare job offers.
Frequently Asked Questions (FAQ)
What is the difference between gross pay and net pay?
Gross pay is the total amount of money an employee earns before any taxes or other deductions are taken out. Net pay, often called 'take-home pay,' is the amount of money the employee receives after all deductions have been subtracted from their gross pay.
What are common salary deductions?
Common salary deductions include income taxes (at the central and sometimes state level), retirement contributions (like a 401(k) or pension plan), health insurance premiums, and other optional deductions.
How is take-home pay calculated?
Take-home pay is calculated by starting with your gross salary and subtracting all deductions. The formula is: Net Pay = Gross Pay - Taxes - Retirement Contributions - Other Deductions. This calculator automates this process for you.
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