35 Lpa Hand Salary India

In-Hand Salary Calculation:

\[ \text{In-Hand Salary} = \text{Annual Salary} - \text{Income Tax} - \text{PF} - \text{Professional Tax} \]

Annual Salary (INR 35,00,000/year):

INR

Income Tax (INR):

INR

PF (INR):

INR

Professional Tax (INR):

INR

In-Hand Salary:

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1. What is In-Hand Salary?

In-hand salary is the actual amount an employee receives after all deductions like taxes, provident fund, professional tax, etc. It's the net amount credited to your bank account.

2. How is In-Hand Salary Calculated?

The basic formula for calculating in-hand salary is:

\[ \text{In-Hand Salary} = \text{Gross Salary} - \text{All Deductions} \]

Where deductions typically include:

Income Tax (as per applicable tax slabs)
Provident Fund (PF) contribution
Professional Tax (state-specific)
Other deductions if any (insurance, loans, etc.)

3. Components of Salary Deduction

Income Tax: Calculated based on your income slab under the old or new tax regime.
Provident Fund (PF): 12% of basic salary (employee contribution).
Professional Tax: Varies by state, typically ₹200-₹250 per month.

4. Using the Calculator

Tips: Enter your annual salary (₹35,00,000 is pre-filled), estimated income tax, PF contribution, and professional tax. The calculator will show your annual in-hand salary.

5. Frequently Asked Questions (FAQ)

Q1: What is the typical in-hand salary for 35 LPA in India?
A: For ₹35 LPA, in-hand salary typically ranges between ₹22-25 LPA after all deductions, depending on tax regime and investments.

Q2: How is income tax calculated on 35 LPA?
A: Under new tax regime (FY 2023-24), tax would be approximately ₹7,87,500 (excluding cess). Under old regime with deductions, it could be lower.

Q3: What is the maximum PF contribution?
A: For employees with basic salary > ₹15,000, PF is 12% of ₹15,000 (₹1,800/month) unless employer follows different rules.

Q4: Does professional tax vary by state?
A: Yes, professional tax rates differ across states. Maharashtra charges ₹2,500/year, Karnataka ₹2,400/year, etc.

Q5: Are there other common deductions?
A: Yes, some companies may deduct for health insurance, meal coupons, transport allowance, etc., which vary by employer.