Calculate Net Salary in Hand (Take-Home Salary) Monthly or Annually from CTC
What is CTC?
In nations like India and South Africa, the term CTC or Cost to Company” refers to an employee’s overall wage package. It shows how much an employer (organization) spends on an employee over the course of a year. It is computed by multiplying the employee’s salary by the total cost of any supplementary benefits received during the service year. Tf an employee’s income is 500,000 and the employer pays an additional 50,000 for health insurance, then the CTC is 550,000. Employees may not get the CTC directly.
What is Net Salary in Hand or Take Home Salary?
Net salary, also known as Take-Home Salary, is the amount of money an employee receives after taxes and other deductions are taken into account. It is the in-hand amount that is calculated after subtracting TDS (Tax Deducted at Source) and other deductions as per the relevant corporate policy.
