in-hand salary @ 15.8 LPA
Hi everyone,
I have a few doubts.
I recently received a job offer with a CTC of 17 LPA, out of which 1.2 LPA is variable. That means my fixed salary is 15.8 LPA.
When I asked the HR about the in-hand salary after all deductions and taxes, I was told it would be ₹1,24,000 per month.
Based on your experience, does this in-hand figure seem accurate for this CTC? If not what would be according to your experience?
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Should be about 80-85K per month.
A good rough rule of thumb for estimation, that works across India & US, is that monthly in hand salary = CTC / 20
This formula is derived from the fact that in-hand annual salary is about 60% of annual CTC, after taxes and other deductions. And Monthly salary is 1/12 of annual salary.
So: Monthly In-hand = CTC * 0.6 / 12 which simplifies to: Monthly in-hand = CTC / 20
But there can be few exceptions, e.g. if they are a very small startup that don’t provide PF benefits, then there won’t be any PF deduction and the in-hand salary will be correspondingly higher
This formula is even not working with my current CTC , according to this I should get 51000, in real I’m getting 76,000
Maybe they have less deductions. But nevertheless 1.15 LPM minimum !!
Voting is saying it would be under 10,3000, why so ?
