1. What is In-Hand Salary Calculation?

The in-hand salary calculation determines your actual take-home pay after deducting taxes and other mandatory contributions from your gross salary of ₹30,00,000 per annum.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• 30,00,000 — Annual gross salary (₹)
• Income Tax — Total annual income tax deduction (₹)
• PF — Provident Fund contribution (₹)
• Professional Tax — State professional tax (₹)

Explanation: The calculation subtracts all mandatory deductions from the gross salary to arrive at the net amount you receive.

3. Importance of Salary Calculation

Details: Understanding your in-hand salary helps in financial planning, loan applications, and budgeting. It shows your actual disposable income after statutory deductions.

4. Using the Calculator

Tips: Enter all deduction amounts in INR. For accurate results, use your actual tax and contribution figures from your payslip or tax calculations.

5. Frequently Asked Questions (FAQ)

Q1: What components are typically deducted from salary?
A: Common deductions include Income Tax, Provident Fund (PF), Professional Tax, and sometimes other contributions like ESIC or voluntary deductions.

Q2: How is income tax calculated on 30 LPA?
A: Income tax depends on your tax regime (old vs new), deductions under Chapter VI-A, HRA exemption, and other factors. Consult a tax advisor for precise calculation.

Q3: What is the typical PF contribution?
A: Typically 12% of basic salary (up to ₹15,000 basic) is deducted as employee PF contribution, with employer matching this amount.

Q4: Does professional tax vary by state?
A: Yes, professional tax rates differ across Indian states, typically ranging from ₹0 to ₹2,500 per year.

Q5: Are there other deductions not included here?
A: This calculator covers major deductions, but your employer might deduct other amounts like loan EMIs, insurance premiums, or charity contributions.