When you receive a job offer with a salary of 9 LPA (lakhs per annum), it’s important to understand how much of that amount you’ll actually take home. Your in-hand salary is the amount you receive after tax deductions, employee contributions, and other deductions are taken out.
The exact in-hand salary for a 9 LPA job will vary depending on factors such as your location, company policies, and the benefits you receive. In general, you can expect to receive around 60-70% of your gross salary as your in-hand salary.
Some of the deductions that impact your in-hand salary include:
- Income tax: The amount of income tax you pay depends on your income level and tax bracket. Generally, the higher your income, the more tax you’ll pay.
- Employee Provident Fund (EPF): Your employer may deduct a portion of your salary for the EPF, which is a retirement savings scheme.
- Professional tax: Some states in India levy a professional tax, which is a tax on your income.
- Health insurance: Your employer may offer health insurance as a benefit, but you may have to pay a portion of the premium.
- Other deductions: Your employer may deduct amounts for items such as meals, transportation, or other benefits.
By understanding these deductions, you can get a better idea of your in-hand salary and how much you’ll actually take home each month. It’s important to factor in these deductions when budgeting and planning your expenses.