Salary division of 5 LPA in-hand salary
Experienced professionals, please help me here. I am an IT administrator in a start-up company. My salary is 5 LPA. How much should I expect in hand? Would there be any tax deduction that I should be aware of? What else would be deducted from my CTC? Also, I live in Delhi NCR, so would this be enough?
If there are more than 20 employees, then they will deduct 12% of your Basic pay for EPF.
10% TDS deducted on Net salary.
Professional tax 200Rs.
RS 34,800/- will be your In-hand salary. If your base pay is 50% of your net salary as you live in metro city.
I don't know what is the fixed component share in that 5LPA.
Truthseeking
Student
a month ago
41666 - 3600 PF - 200 = 37866/- in hand. No tax deduction.
To answer the first part of your question, that is what will be your in-hand salary as an IT administrator with 5 LPA, your average in-hand salary will be around 4.2-4.5 LPA. As per tax deductions, here are the following deductions you can expect:
- Income Tax: 10-15% of CTC, however, it depends on tax slabs and exemptions.
- Provident Fund- 12% of your base salary (mandatory).
- Other deductions
For the last part of the question, whether it is enough to live in Delhi NCR at a salary range of 4.2-4.5 LPA (in-hand), there’s good news! Yes, it is possible, if you’re looking for a modest life.
Depending on your location, if you want to rent a place that can cost around INR 15,000- INR 25,0000.
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