Question

If the payscale is 40000-140000 what is in hand salary

Answer 1

Explanation:

lThat means 40,000 is the entry level Basic Salary for E2 (Executive 2) grade with 3% hike on your basic pay every year as long as you are in the same grade.

This is the basic pay a graduate fresher gets after being recruited as probationary engineer / deputy engineer.

1,40,000 is the maximum basic pay one gets when they remain in E2 grade over years with 3 % hike on basic pay every year starting from 40,000.

Gross Salary = basic (40,000) + DA (2.2% of basic - this is DA as on Dec 2017) + HRA (24% of Basic) + Perks (34% of Basic + DA) which is around 64,380/-

Deductions : statuatory PF = 12 % of basic + DA = around 4,900/-

Income Tax of 4,000/- per month.

Take home is around 55,000/-

In addition, a variable bonus will be paid annually.

Hope this helps!

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