I think you know about the concept of CTC as a projected estimate of total expenses incurred by the employer annually to retain the employee in service as per the contract of employment. From the inputs given by you, the following are the actual heads of payment which you would receive every month:
Basic Pay = Rs. 50,000-00
HRA = 25 000-00
Medcl Allow = 1250-00
Con.Allow = 1600-00
Internet = 2000-00
Spl. Allow = 7817-00
GROSS = 87667-00
DEDUCTIONS: PF Contribution by self Rs.1800-00 + PT Rs.183-00 = Rs.1983-00 NET before tax= Rs.85,684-00
The values of food coupons, L.T.A and Employer's contribution for EPF are not included as they are not actually paid to the employee.
From India, Salem
noctro15Thank you sir for the reply. It is safe to assume that with taxes the net after-tax amount would be around Rs 76,000 then.
From India, Bengaluru
You are interested to know your tentative take home. What Mr. Umakanthan has already explained, you may consider also Medical & Conv amounting 2850/- per month as non taxable pocket. Then your taxable take home will be Rs. 82,834/- per month.
Now based on your other factors - Rental house, Further investment under SEC-80C other than your own PF contribution, Mediclaim( under sec-80D) etc. will determine your actual take home amount.
Thanks & Regds.,
S K Bandyopadhyay ( West Bengal-Howrah)
USD HR Solutions
From India, New Delhi