Trending @HCL; Salary Structure
I need some clarity regarding my salary structure.
When I was switching jobs, my target was to get an 18 LPA package. Based on that, I had calculated an expected in-hand salary of around 1.20–1.22 lakh per month. By God’s grace, I even received an offer of 18.80 LPA (fixed). I then expected my monthly in-hand to be around 1.23–1.25 lakh.
However, when the actual salary came, it was 1.44 lakh in hand, and for the last three months it has been consistently the same. Out of this, 4,000 is shift allowance, so without that the in-hand is still around 1.40 lakh, which is much higher than what I had calculated for an 18.80 LPA package.
I am not able to understand why my in-hand salary is coming out to be significantly higher than expected. Has anyone experienced something similar, or can someone explain how this might be happening?
Looking forward to your insights.
This is happening because the company is not deducting tax for the whole year.. they are deducting tax on the basis of the total amount which you will receive in the current financial year from the company pocket.. Assuming you joined the company in Oct then the total month of this year is 6 months and total ctc is 9.4 for the company and as per tax slab 9.4 is tax free .
Will I have to pay this remain tax , if yes how?
