Salary Calculation Confusion: Can Anyone Simplify CTC and Net Salary Steps for Me?

Dear All,

Can you please help me with the steps of Salary Calculation? Is there any format available for CTC and Net Salary calculation? Please make it as simple as possible for me to understand.

Greetings,

Please consider the discussion and the inputs shared in this link: https://www.citehr.com/110240-salary...ion-excel.html

Regards, (Cite Contribution)

Thank you so much for the very useful information. It would have been even better if you could have included some formulas for the mobile allowance to show its effect in the sheet. Anyway, it was a really helpful Excel sheet.

I am new to the HR department. If somebody earns Rs. 500,000 per annum, how do I calculate the basic salary, and what will be the deductions?

If you have any further questions or need clarification, feel free to ask.

Dear Lilakar,

Please download the attached file in Excel for CTC & Net Salary calculation.

Hope it will be helpful to you.

Sheet does not cover too many issues, like Bonus at 8.33%, Leave salary calculation, Gratuity liability, etc. Please try to develop a sheet covering all those so that we may really benefit. Your effort is highly welcome.

Dear Lilakar,

Please download the attached file in Excel for CTC & Net Salary calculation. I hope it will be helpful to you.

TDS Deduction in CTC Calculation

In your CTC calculation Excel sheet, your take-home column does not specify TDS deduction. Are we not supposed to take tax into consideration? Of course, the figures you quoted were within the allowable limits, but for anyone who draws a salary above 200,000 p.a.

Salary Revision and TDS Implications

Also, I wanted to know if someone joins the company in the month of October and is given 18K per month, which is revised to 20K per month starting in January, the total drawn salary for that fiscal year would be 114,000 and therefore falls under the tax exemption limit. Should we be deducting TDS in such a case?

Regards.