Hello fishes,
Please help me with my in-hand salary calculation.

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Posting as :
works at
You are currently posting as works at

Company?

It's a service based company.

And what chocie pay includes, based on that we can say

If you declare HRA and 1.5lpa in 80c you will get somewhere around 125000

You ll get something in the range of 125k-140k depending on what bills you show.

LTA is offered 2 times in 4 yrs that too you have to travel with bills, the next that you can claim travelling in India is 60-70k for 5-6 people in a family. So assuming 70k tax exemption.

HRA: suppose you are paying rent of 20k per month, total comes 2.4 lakhs, 40% of Basic salary = you'll get 1.5-1.6 lakhs exemption

Show bills of Attire allowance:50k exemption

So total exemption: 2.7 lakhs
0-3 lakhs-0
3-5 lakhs-12500
5-10 lakhs- 1 lakhs
10-22 lakhs =12 lakhs-2.7 lakhs= 9.3 lakhs
30% of 9.3 lakhs= 2.8 lakhs

Total tax= 2.8 lakhs+1 lakhs+12500=3.9 lakhs-4 lakhs

So 22-4= 18 lakhs including PF+Gratuity
In hand 16.5 lakhs (1.5 pf+gratuity)
16.5/12=1.37 lakhs in hand for first year
Next year this amount will be 1.3 lakhs bco LTA won't be thr to claim.


All th best

What is choice pay?

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