What does 12 LPA mean in salary?
Lakhs Per Annum (LPA) is a unit of Cost to Company (CTC) in India.
What will be in hand salary if CTC is 12 LPA?
General Comparison Chart For Approximate Understanding by Ck
| Band | CTC (Yearly) | In Hand Salary |
|---|---|---|
| A | 20 lakh | 1,15,000 per month |
| B | 15 lakh | 95,000 per month |
| C | 12 lakh | 82,000 per month |
| C | 10 lakh | 63,000 per month |
What is the tax for 12 lakhs per annum?
30\%
Tax to be paid 12 lakhs, they will be paying a 30\% tax on Rs. 12 lakhs i.e Rs. 3,60,000.
How is actual salary calculated from CTC?
How to Calculate In-hand salary from CTC
- Calculate Gross Salary by deducting EPF and Gratuity from the CTC.
- Calculate the taxable income by making the required deductions from the total income.
- Income tax is calculated by adding the respective slab rate on calculated taxable income.
- Finally, calculate the in-hand salary.
How can I save tax on my salary under 12 lakhs?
That’s Great! What are the Tax Saving Options u/s 80(C)?
- Investments in PPF (Public Provident Fund)
- Investments in EPF (Employee Provident Fund)
- Investments in ELSS funds (Equity-Linked Savings Scheme)
- Investments in NSC (National Savings Certificates)
- Payment of premiums against Life Insurance Policies.
What is the meaning of LPA in CTC?
LPA is the unit of Cost to Company (CTC) in India. For example: If a company is hiring someone by offering CTC of 10 lpa means it will be spending Rs. 10 lakh per annum on that employee. *Here lakh stands for Rs. 1,00,000.
What is the meaning of CTCTC?
CTC – cost to company. For the Company, Cost to company is a term which describe the amount of expenses the company will spend on an employee in a particular year. For example: If a company is hiring someone by offering CTC of 12 lpa means it will be spending Rs. 12 lakhs per annum on that employee.
What is cost to Company (CTC)?
Cost to Company (CTC) Cost to Company (CTC) is the yearly expenditure that a company spends on an employee. Each employee spend depends on their salary and variable. CTC is calculated by adding salary and additional benefits that an employee receives such as EPF, gratuity, house allowance, food coupons, medical insurance, travel expense and so on.
What is the full form of LPA?
LPA IS LAKHS PER ANNUM. It stands for Lakhs* per Annum. In India, employee in a company is offered annual remuneration, this remuneration cost is defined as Cost to Company (CTC), which is mostly the maximum amount a company is going to spend on the employee directly or indirectly for that year.