1. What is Net Salary?

Net salary is the amount an employee takes home after all deductions, including taxes, have been subtracted from the gross salary. It represents the actual amount received in the bank account.

2. How Does the Calculator Work?

The calculator uses a simple formula:

Where:

• Gross Salary — Total salary before any deductions (LKR)
• Taxes — Total tax amount deducted (LKR)

Explanation: This basic calculation helps employees understand their take-home pay after mandatory tax deductions.

3. Importance of Salary Calculation

Details: Understanding net salary is crucial for personal financial planning, budgeting, and comparing job offers.

4. Using the Calculator

Tips: Enter your gross salary and estimated taxes in Sri Lankan Rupees (LKR). Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What's included in gross salary?
A: Gross salary includes basic pay plus all allowances before any deductions.

Q2: What taxes are deducted in Sri Lanka?
A: Typically includes PAYE tax, ETF, and EPF contributions depending on employment type.

Q3: How often should I calculate my net salary?
A: It's good practice to calculate whenever your salary changes or tax laws are updated.

Q4: Are there other deductions besides taxes?
A: Yes, there may be other deductions like loan payments, insurance premiums, etc.

Q5: Is this calculator accurate for all employment types?
A: This provides a basic estimate. For precise calculations, consult your payroll department.