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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.
Calculation of Gratuity:
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