hello seniours... i want exactly know abouy gross salary n net salary. regards sanchita
From India, New Delhi
From India, New Delhi
gross salary is the sum total of your basic/fixed salary, dearness allowance, travel allowance, HRA, city compensatory allowance, any other special allowances like telephone, etc.
net salary would become the final amount in hand after deduction of statutory tax like I.T, your PF contributions, your loan deductions - housing, motor vehicle loans, Professional tax, if applicable.
illustration: say your total emoluments are 25000/- p.m, then
bifurcation, if it is :
basic salary:10000/-
+dearness pay/allowance: 6000/-
+HRA: 5500/-
+travel/ commutation allowance: 1000/-
+CCA: 800/-
+spl. allow:700/-
+tel. allow.:1000/-
your GROSS SALARY = 25,000/-
deductions:
Income tax: 2000/- p.m
CPF contribution: 5000/-
HB ADv.: 3000/-
prf.tax: 300/-
Total= 10,300/-
therefore now your net income would be: Gross sal. (--) Deductions
i.e 25000 - 10300 = 14700/- (Net salary)
i hope this makes you understand
bye
SP TRipathi
NPC INdia
From India, New Delhi
2net salary would become the final amount in hand after deduction of statutory tax like I.T, your PF contributions, your loan deductions - housing, motor vehicle loans, Professional tax, if applicable.
illustration: say your total emoluments are 25000/- p.m, then
bifurcation, if it is :
basic salary:10000/-
+dearness pay/allowance: 6000/-
+HRA: 5500/-
+travel/ commutation allowance: 1000/-
+CCA: 800/-
+spl. allow:700/-
+tel. allow.:1000/-
your GROSS SALARY = 25,000/-
deductions:
Income tax: 2000/- p.m
CPF contribution: 5000/-
HB ADv.: 3000/-
prf.tax: 300/-
Total= 10,300/-
therefore now your net income would be: Gross sal. (--) Deductions
i.e 25000 - 10300 = 14700/- (Net salary)
i hope this makes you understand
bye
SP TRipathi
NPC INdia
From India, New Delhi
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Gross Salary(1).xls