Based on the above data write the formula to calculate the following:
(i)Net pay of GM by using the formula as Net Pay = (Basic + DA+HRA)
(ii) Net pay of clerk using the above formula
(ii) Average Net pay of AGM & DGM
(iv)Nanay of a manager
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Net Salary = Gross Salary – Professional Tax – Public Provident Fund – Income Tax
Given below is the step-by-step procedure to calculate the Net Salary(Inhand Salary):
Initially, you must calculate the Gross Salary. Gross salary is neither your Cost to Company (CTC) or basic salary. Gross salary can be obtained by subtracting the Gratuity and the Employees’ Provident Fund (EPF) from the CTC.
Gross Salary = CTC – EPF – Gratuity.
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