Question

5 lakhs per annum mean how monthly my salary

Answer 1

Hii Sham,

● Answer -

Monthly salary = 41667 Rs

◆ Explanation -

Given that salary is 5 lakh per annum.

Annual salary = 5 lakh

Annual salary = 500000

As one annum means 12 months, monthly salary will be -

Monthly salary = annual salary / 12

Monthly salary = 500000 / 12

Monthly salary = 41667 Rs

Hence, your monthly salary will be 41667 Rs.

Thanks dear. Hope this helps you..

Answer 2

Answer:

37313.33/- per month.

Step-by-step explanation:

In order to calculate your Take-Home Salary or Net Salary,  steps followed are:

Gross Salary= Basic Salary + HRA + Other Allowances.

Alternatively,

Gross Salary= CTC – (EPF + Gratuity)

Taxable Income = Income (Gross Salary + other income) – Deductions.

Total Annual CTC: 5 lakhs

Yearly deductions:

Medical reimbursement = 15000/-

Professional Tax: 200*12 = 2400/-

PF (Depends on your company salary. Taking 1.8k as an average)= 1800*12 = 21600/-

Assuming a rent of 8k per month = 8000*12 = 96000/-

Tax deduction calculation:

Upto, 2.5 lakhs, you have no tax deductions.

So TDS is for the rest of 2.5 lakhs:

No tax for rent amount: 96000/-

No Tax for Amount deducted for PF: 21600/-

Therefore, Taxable amount is: 250000–96000–21600= 132400/- (This amount can be reduced if you do some Life insurance or fixed 5 year deposit or PPF account and in many other ways)

Therefore 10% of 132400 = 13240.0/-        

In hand Salary:

500000(CTC) - 15000–21600–2400–13240= 447760/- per annum.

Per month in hand salary: 447760/12= 37313.33/- per month.

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